Cogitate further expands Digital Solutions for the P&C insurance sector with the acquisition of Axiom, Inc.: Cogitate Technology Solutions Inc.
Mergers & Acquisitions Daily News
2022 MAY 24 (NewsRx) -- By a News Reporter-Staff News Editor at Mergers & Acquisitions Daily News -- Cogitate, a leader in accelerating digital insurance for Wholesale Brokers, MGAs, and Carriers, has announced the acquisition of Axiom, a Claims & Billing software provider for Property and Casualty Insurance. With this acquisition, Cogitate will offer full stack, cloud native digital underwriting, distribution, billing and claims solutions within its DigitalEdge insurance platform.
Cogitate DigitalEdge is an industry-leading insurance digitalization platform that incorporates digital underwriting and distribution capabilities across the value chain, including third-party data and carrier integrations, core system integration capabilities. DigitalEdge also includes powerful low code no code functionality and analytics for business users.
Cogitate’s digital insurance solution supports complete policy life-cycle functionality from rating and quoting to binding and post-sale services including renewal and endorsement processing and more for personal and commercial lines products. Axiom’s DotClaim & DotBill solutions when integrated with DigitalEdge will complete the full stack digital underwriting, distribution, billing and claims software with true native cloud capability.
“Exciting times! We are delighted to add Axiom to our Cogitate family. This acquisition is a significant milestone in our mission to accelerate digitalization of insurance and bring greater efficiency, ease of doing business, speed-to-market, with an incredible user experience (UX) for all customers across the value chain,” said Arvind Kaushal, CEO & Co-Founder of Cogitate. “With the addition of Axiom’s claims and billing solutions we are enhancing Cogitate DigitalEdge Insurance Platform, and we will be positioned well to bring modern core system capabilities for any personal and commercial product with an end-to-end digital platform to insurers of all sizes.”
“Harnessing the synergy, the experience and the potential of both sets of technologies at Cogitate and Axiom is very thrilling,” said Samir Salem, CEO of Axiom. “We will quickly capitalize on this synergy to expand our systems functionality to enable us to provide more comprehensive solutions to our insurance partners and their users. We are very excited to begin this new journey and to be part of this team which holds innovation and customer expectations at its core.”
Keywords for this news article include: Business, Cogitate Technology Solutions Inc., Mergers and Acquisitions, Software, Technology.
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