Tennessee-based Selectsys, an insurtech specializing in enterprise course of outsourcing for insurers, has acquired Knowledgeable Insured, a man-made intelligence-led insurance coverage administration system for wholesalers, carriers and managing common brokers. Phrases weren’t disclosed.
With headquarters in Boston, Knowledgeable Insured additionally has a brand new CEO. Spencer McDonald was beforehand with McKinsey & Co. and focuses on AI-driven Insurtech options, the businesses mentioned in a information launch. Knowledgeable mentioned it makes use of AI-enhanced workflows and administration instruments to automate processes and enhance effectivity for insurance coverage firms.
Selectsys, with places of work in Knoxville, Tennessee, has been round for greater than 20 years, offering enterprise processing and tech for MGAs and wholesalers, the corporate mentioned.
Subjects
Mergers & Acquisitions
Carriers
InsurTech
Data Driven
Artificial Intelligence
Insurance Wholesale
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