CHIEF EXECUTIVE OFFICER
May 12, 2015 - Newton, MA
Morgan Partners, an independent middle-market investment bank serving the financial technology sector, today announced its role as exclusive financial advisor to Oceanwide, Inc. in its sale to Insurity, Inc.
The combined company will be able to offer even greater value to existing Insurity and Oceanwide customers while strengthening Insurity's market position and ability to address the broad needs of domestic and international carriers, MGAs, and Program Administrators. The Oceanwide brand will be retained with the organization operating as ‘Oceanwide, An Insurity Company.’
"Morgan Partners provided indispensable advice and valuable coaching at every stage of the transaction,” said Mitchell Wasserman, Chief Executive Officer of Oceanwide. “They were a true partner and did an outstanding job for our shareholders. We give Morgan Partners our highest recommendation.”
Further information about the transaction can be found here.
About Oceanwide, Inc.
Since 1996, Oceanwide has been delivering SaaS core processing solutions to property and casualty insurers of all sizes across the globe. Our configurable insurance software solutions enable insurers to react to market changes, configure new products and manage their products with increased speed and lower costs for any line of business, virtually eliminating professional service fees. Designed from the ground up to be web enabled and fully configurable without custom programming, our solutions automate policy, billing, claims, underwriting, document management, agent/consumer portals and more for insurers, MGAs, and brokers. For additional information, please visit the Oceanwide website at www.oceanwide.com, or call (888) 289-7744.
About Insurity, Inc.
Insurity, Inc. enables property & casualty insurers to modernize their enterprise and achieve their business goals. Insurity’s core processing applications and data integration and analysis solutions are backed by rich insurance expertise and are in production with over 100 insurers, processing billions of dollars of premium each month. Insurity’s solutions address the needs of all carriers – from 15 of the Top 20 insurers to small or regional commercial, personal, or specialty lines writers, as well as MGAs. For more information about Insurity, call 860-616-7721 or visit www.insurity.com. Connect with Insurity on Twitter, LinkedIn and Facebook.