The company said that the acquisition of Xcipio would enable it to provide its customers with online insurance rates directly from carriers.
Xcipio, located in East Windsor, Conn., provides Web-based, real-time rating and automation solutions to insurance agents, brokers and carriers in Connecticut. Xcipio will operate as a division of FSC Insurance Solutions, a Fiserv business unit that holds a leading position in the insurance rating business in California, Arizona and seven Midwestern states.
Terry Wade, president of the Fiserv Insurance Group, said the deal represented its further expansion into the insurance industry. Fiserv will continue to build and acquire the necessary technologies to provide the best rating and submission experience to insurance professionals nationwide.
David Cooksley, president of Xcipio was excited by the deal, Together, we will meet a wider set of customer needs and have a significantly greater opportunity to enter into new and emerging markets.
