For expanding its base to the North American market
Sword Group has acquired the full share capital of Boston-based AgencyPort, a provider of insurance distribution technology. The acquisition follows the company’s plans to expand its base to the North American market.
Steve Hauck, co-founder of AgencyPort, will lead Sword’s insurance division as CEO in the Americas and AgencyPort co-founder Eric Harnden will take on the global role of CTO for Sword in insurance.
Reportedly, Sword’s insurance proposition intends to bring a combination of products that span policy administration (Sword Intech) and multi-channel CRM (Sword Ciboodle) with AgencyPort’s distribution technology (the renamed Sword AgencyPort).
Heath Davies, CEO of Sword Group, said: “The acquisition of AgencyPort is a strategic step for the Group and our customers. We are moving towards our goal of providing an impressive a-la-carte portfolio of leading software solutions encompassing policy administration, CRM and distribution technology to the global insurance marketplace.”