SunGard has acquired Maxim Insurance Software Corporation, a provider of premium billing systems for the property /casualty industry. Maxim will become part of SunGard's iWORKS product family. The terms of the transaction were not disclosed, but the deal is not expected to have a material impact on SunGard's financial results.
Maxim's solutions include the Ebenezer system, a rules-based billing and collections system. An organization using Ebenezer can bill all of its companies, and all of their affiliates, while using any combination of billing methodologies, entirely within one installation of the system. Ebenezer can be used as an independent billing solution or fully integrated into a company's policy processing system.
SunGard will position Ebenezer as a billing solution for use by property/casualty insurers and as a complementary solution to SunGard's existing insurance applications.
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