Hartford, CT – Insurity, Inc., a provider of core insurance processing and data integration and analytics solutions recently announced that it, and its wholly owned subsidiary, Oceanwide, recently closed a record breaking second quarter. Revenue, on a recurring basis, grew by over 15 percent in the second quarter of 2016 from new customers and existing customers expanding their agreements. Similarly, Oceanwide, a developer of industry-leading, configurable, SaaS-based insurance software experienced over 30 percent revenue growth for the same quarter. In addition, the companies signed a record number of nine new logos in Q2 2016 including startup, Hippo Analytics, and FFVA Mutual, which specializes in workers’ compensation solutions.
New customers for both Insurity and Oceanwide have come from all segments of the property & casualty insurance market. As a follow up to its acquisition of Tropics, a leading workers’ compensation solution provider, Insurity also announced three new customers in this area, confirming its market leading position in the workers’ compensation space. Customers are now able to leverage the strengths of the combined organization and take advantage of the unique functionality of each company offering. Insurity now counts over 80 customers leveraging its solutions through the cloud, also an industry leading metric.
”We are excited to have signed so many new customers this year,” said Jeffrey Glazer, CEO, Insurity. “We believe there is great value in our combined offering and believe that with the wide range of our solutions across Insurity, Oceanwide and our newest company, Tropics, we are uniquely prepared to support the needs of carriers of all sizes and segments of the market.”