LexisNexis Risk Solutions has entered into a definitive agreement to sell its insurance-software solutions business to the San Francisco-based private-equity firm Genstar Capital. Genstar is expected to resurrect the Insurity brand once the deal is completed, according to Donald Light, senior analyst with research and advisory firm Celent.
The insurance-software business being sold to Genstar is directed toward the P&C insurance industry with policy administration, claims, billing and business intelligence solutions.
"The Insurity name disappeared when LexisNexis bought ChoicePoint," says Light. "They rebranded it to LexisNexis Insurance Software Solutions, which was too big of a mouthful. It's the same group of core systems software with the old brand."
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