Fiserv Acquires Rating Solution Provider Xcipio

Fiserv, Inc., has acquired Xcipio, Inc., a Web-based insurance rating and automation provider, as part of Fiserv's plan to expand in the insurance industry. The acquisition will allow Fiserv to provide Web-based comparative insurance rates directly from insurance carriers to producers in real time.

Terry Wade, president of the Fiserv Insurance Group, indicates the acquisition is a continuation of Fiserv's dedication to look for new ways to expand its presence in 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," says Wade.

Xcipio, located in East Windsor, Conn., supplies Web-based, real-time rating and automation solutions to insurance agents, brokers, and carriers in Connecticut. It will operate as a division of FSC Insurance Solutions, a Fiserv business unit that holds a rating business in California, Arizona, and seven midwestern states.

Robert Meyerson, CEO of FSC Insurance Solutions, notes the acquisition is a significant component of FSC's overall business development strategy. "The addition of Xcipio is particularly effective when combined with [our] current technology and product portfolio," he says. "Technological synergies between our companies will allow us to create new rating products built on a hybrid of manufactured and real-time rates. In turn, we are able to distribute complete and highly accurate rating solutions at a lower operating cost and with an accelerated time to market."