US-based software developer, IncubEx, has announced the acquisition of EY-owned insurtech platform, Insurwave.
Insurwave is designed to connect insurance buyers, brokers and insurers, supporting the placement and servicing of specialty cover.
Neil Eckert, chairman of IncubEx, commented: "Our view is that insurance and climate risk are becoming inextricably linked. The sector will continue to see expanding opportunities as a result of climate change with increasingly complex supply chain risks in the corporate and captive markets. Our clients will need solutions to manage their transition to net zero across insurance and financial markets and it is critical that we provide the technology to focus on connecting them with brokers and the markets."
David Power, CEO of Insurwave, added: "Large scale insurance buyers are demanding technology that provides a simple and transparent solution for understanding their exposures and connecting with their insurance markets. Clients require platforms that openly integrate with internal systems and external data. We are excited to see a genuine transformation for insurance buyers, brokers and insurers by embracing the Insurwave platform that connects to their exposures, contracts and markets today."
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