Sword Group, a global software and services company, announcesthe formation of a new division dedicated to providing software andservices to the global insurance market. The new division is led bySteven Hauck and Eric Harnden, who co-founded AgencyPort, and CurtStevenson, a team that has already worked successfully together forover 10 years.

(Sword Group has been active in the insurance technology fieldas you can see from this article.)

The new division offers the insurance market software productsand delivery capabilities around leading solutions such asmulti-channel distribution technology, business intelligence tools,and specialized policy administration. In addition, Sword Group hasrecently approved an increased R&D budget for the division thatwill fund a centralized product development organization for SwordInsurance.

The new Sword Insurance division currently serves over 110clients in 17 countries in the property/casualty and healthinsurance industries. Sword Insurance staff, 350 in total, isheadquartered in the U.S. in Boston and in the U.K. in London withoffshore professional service and support units in India andWales.

"The foundation of our growth will be driven largely by ourbroad and blue chip global customer base," says Hauck. "With ourcustomer-centric business model, we have combined products thatdrive immediate business value for our clients with a flexible andefficient project delivery organization. A fierce commitment tocustomer satisfaction will drive innovative product development,additional acquisitions and long term, sustainable, and profitablegrowth."

"Through the acquisitions of Sword Intech, Sword AgencyPort andSword Ciboodle and the launch of an offshore services team forinsurance in India and in our Wales service center, Sword Insuranceoffers a breadth and depth of software and services." says HeathDavies, CEO of Sword Group. "We are confident in the ability of ournew management team and our staff in their respective markets tomeet customer demands and drive organic and inorganic growth."