A unit of Verisk, the Jersey City-based analytics company, has acquired the assets of software advisory firm 4C Solutions, which serves the group life insurance sector.
Verisk said in a news release that its FAST individual life insurance software provider is taking over 4C, combining the former’s individual life offerings with the latter’s group life products.
“Managing group life insurance can be a major challenge for insurers, many of whom rely on decades-old technology to help employees obtain the coverage they need,” Tom Famularo, co-founder and managing director of FAST, said in a prepared statement. “The addition of 4C’s capabilities will help us serve the group life market.
“Our scalable, no-code solutions can be implemented in months and will provide group insurers with tools to improve operational efficiency and transform the customer experience.”