Thinktum buys Illustrate to bolster choices for insurance coverage trade

Canadian firm Thinktum has accomplished the acquisition of Illustrate to bolster its back-office know-how options for insurance coverage corporations and insuretechs.

Illustrate presents a cloud-based, low-code platform that’s designed to ship purchasers with new life, wealth and well being illustrations, e-applications and point-of-sale know-how.

This platform will be deployed to satisfy the various necessities of every insurance coverage, wealth and funding agency.

The deal will greater than double Illustrate’s sources, enabling it to higher serve each its present and potential purchasers.

Beneath the association, Lyndon Edwards will proceed to function Illustrate president whereas additionally serving as president for Thinktum.

Paul Reaburn will function Thinktum CEO whereas David Slabodkin will be part of because the board chairman of each entities.

The takeover is a part of Thinktum’s technique to change into a key no-code supplier within the insurtech and life insurance coverage sector.

Reaburn stated: “We’re proud to proceed providing Illustrate’s nice services via their extremely certified employees whereas enhancing its portfolio with further cutting-edge know-how options developed by Thinktum. 

“We’ll proceed to put money into all our mixed merchandise and repair choices whereas bettering the general buyer expertise.”

Edwards stated: “We’re thrilled to hitch forces with Thinktum and to be supplied with the chance to develop and improve our bench depth, capabilities, and options. 

“Integrating the superior and revolutionary Thinktum options with our highly effective OPUS Platform is a pure match, empowering our present and future prospects with an unparalleled suite of choices and performance to drive their companies ahead.”