Acturis Group Limited, the leading UK insurance Software as a Service (SaaS) provider, today announced that it has acquired the market leading broker software system provider in Germany, AssFiNET AG. The Acturis Group now has more than 400 colleagues around Europe, customer implementations in over 30 countries, and annual revenues in excess of £45 million.
AssFiNET is the leading broker software system in Germany with a market share of more than 25%. AssFiNET’s broker software provides support for the entire broking process including connectivity to insurers and to quote comparison systems including NAFI, the market leading comparative motor insurance quote provider acquired by Acturis in 2014.
David McDonald, co-CEO at Acturis, says: “We are delighted to welcome AssFiNET to the Acturis Group. AssFiNET is a perfect strategic fit for us and complements NAFI our existing business in Germany. Our strategic goals are to build on AssFiNET’s position as the best broker software provider in Germany and to further develop seamless integration between the AssFiNET and NAFI systems and, in partnership with insurers, build true, end-to-end, full cycle eTrading in Germany with zero rekeying between brokers and insurers.”
He continues: “In addition, we are working to expand NAFI’s quote comparison excellence beyond motor insurance into other personal lines classes of business, such as household, personal liability and legal expenses, and also into SME commercial business. We will then be in a unique position to work in partnership with brokers and insurers to enable electronic trading across multiple lines of business, driving improved efficiency throughout the process for the benefit of all. ”
Marc Rindermann, the CEO of AssFiNET, will lead the German Division of the Acturis Group, supported by Ivana Höltring and Frank Wellmann who will continue to lead NAFI.
Marc Rindermann adds: “Over the past few years AssFiNET has built a position as the market leading broker software system provider in Germany. However, we recognised that AssFiNET would benefit from being part of a larger group in order to move to the next level of innovation as greater electronic connectivity and new eTrading initiatives emerge in the German insurance market. In Acturis we have found a partner who has demonstrated deep expertise and innovation in the UK market where its software is used by many of the leading insurers and brokers. NAFI also brings an added opportunity. We know and respect the NAFI team and our current technical integration with the NAFI system is already market leading. We now look forward to taking the combined business to the next stage.”