Swiss insurance industry-specialist Imburse Payments acquired by Duck Creek Technologies

Boston-based listed company Duck Creek Technologies has acquired payments platform Imburse Payments for an undisclosed figure.

Founded in early 2018, Imburse is specifically built to target the payments needs of the insurance industry, enabling insurance carriers to connect to the entire payments ecosystem, seamlessly integrate with existing financial infrastructure and processes, and manage multiple partners for collections and disbursements, all in one place. 

The acquisition serves to complement Duck Creek Technologies’ existing software solutions that aid insurance carriers in deploying and managing their products and services, as well as further accelerate the company’s European market entry.

According to a statement provided by Duck Creek, Imburse will continue to operate on a stand-alone basis, but also be fully integrated with the former’s tech stack.

“Imburse has developed a great product for the global insurance industry that is not only easy to integrate and implement but also gives carriers incredible flexibility and payment choices,” commented Duck Creek CEO Mike Jackowski. “Imburse has a strong team that embodies Duck Creek’s core values. They have deep expertise across the payments ecosystem and will help to broaden Duck Creek’s insurance industry leadership.”