IPipeline has acquired Bluesun, a Toronto-based maker of software products to automate business processes for MGAs, national accounts, mutual fund dealers, banks and insurers.
No financial terms were disclosed.
Founded in 2001 by CEO Simon Tomlinson and Chairman Stewart Wigg, Bluesun has a client base that includes nearly 70 percent of Canadian life insurers and agencies.
IPipeline, an Exton, Pennsylvania-based provider of cloud software solutions to the life insurance industry, said the deal extends its reach into the Canadian market.
U.S. private equity firm Thoma Bravo acquired iPipeline in 2015 from the company’s venture capital investors.
iPipeline Acquires Canadian Solutions Provider Bluesun
Exton, PA (March 18th, 2019) – iPipeline® – a leading provider of cloud-based software solutions for the financial services industry – today announced the acquisition of Bluesun, a leading provider of software solutions to the life insurance and financial services industry in Canada. Bluesun designs software products to automate core business processes for MGAs, national accounts, mutual fund dealers, banks and insurance companies. Their client base includes nearly 70% of all Canadian life insurers and agencies.
“Canadian insurers and financial institutions are looking to rapidly merge into the fast lane of digital transformation. Bluesun has done an outstanding job of steering them in the right direction as a strategic and tactical partner,” said Tim Wallace, CEO, iPipeline. “The acquisition of Bluesun gives us the opportunity to combine the synergies of the two companies and present our Canadian clients across the industry with an innovative, straight-through processing platform strategy that has been proven effective by our U.S. customers.We’re excited about the growth potential and confident about the value we can deliver together through industry leadership and innovation.”
“iPipeline is the clear leader in straight-through processing, platform modernization, accelerated underwriting, wealth management automation, and data analytics, all of which are top of mind for executives in the Canadian market place. The industry is ready to go digital,” said Simon Tomlinson, Founder and Chief Executive Officer, Bluesun. “Bluesun’s software solutions for life insurance sales, case management, and policy administration, when combined with iPipeline’s extensive offerings, will take our clients to the very leading edge and drive sales, settlement and administration of life insurance through any channel the consumer wants to choose. This will now be possible using one partner for every step in the process that takes the consumer from prospect to policyholder using a Canadian multicarrier platform. Our goal is to be a part of every life insurance transaction in Canada, and our acquisition by iPipeline is a huge step forward to accomplishing this mission.”
“For more than a decade, iPipeline has had an intense focus on making strategic acquisitions that cumulatively increase our value to the life insurance and financial services industry. Canada has been in our sights for years, and the acquisition of Bluesun enables us to extend our reach into a geography that is committed to digital transformation,” said Larry Berran, COO and CFO, iPipeline.“Bluesun’s team brings forged relationships based on years of customer engagement. We look forward to the opportunity to extend their value proposition by delivering new innovations to accelerate the pace of business.”
To learn how you can implement iPipeline’s SSG Digital straight-through processing platform to streamline and accelerate new business acquisition and in-force management processes and better engage the digital customer, contact firstname.lastname@example.org or call 1-800-758-0824, option 2.
Bluesun is a leading provider of software solutions to the financial services industry. Bluesun’s mission is to deliver painless software solutions to its clients. This means easy-to-use, intuitive software, with hassle-free installation and responsive, class-leading service. Today, Bluesun has over 30 clients in Canada and the US and handles almost 70% of all Canadian life insurance business in the independent channel. Bluesun was founded in 2001 with its head office located in Burlington, Ontario. For more information, visit www.bluesun.ca.
iPipeline is a leading provider of cloud-based software solutions for the life insurance and financial services industry. Through our end-to-end platform, we accelerate and simplify sales, compliance, operations and support. We provide process automation and seamless integration between every participant in our ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers on a global basis. Our innovative solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management.
iPipeline’s platform is used by more than 130 carriers, 1,300 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Bromley (UK), Burlington (Canada), Cheltenham (UK), Dallas, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com.