Connecture, Inc. and Riverwood Solutions Combine To Create Clear Industry Leader in Insurance Sales Automation
ATLANTA, July 8 /PRNewswire/ -- Connecture, Inc. and Riverwood Solutions, Inc. today announced that they have completed the merger of their respective organizations. The merger of the two leading providers of sales and service automation solutions for the insurance industry allows the combined company to offer expanded functionality, increase its ongoing investments in product development and delivery activities, and better serve its current and future clients through expanded critical mass, product flexibility and financial strength. "The merger between Connecture and Riverwood Solutions creates the clear industry leader in what was until now a highly fragmented market," said Scott Remley, Chairman and Chief Executive Officer of the company. "The new company merges two highly successful and complementary organizations, both solely focused on delivering web-based sales and service automation to the insurance industry. Each company brings deep domain expertise and experience gained from serving over 30 insurers, including 6 of the nation's 10 largest health plans. Together, we will utilize this unmatched critical mass of over 220 highly skilled professionals and proven software functionality to better serve our current and future clients." "Connecture and Riverwood Solutions each possess very robust, highly complementary, and remarkably similar software solutions," indicated Dan Maynard, President and COO of the combined company. "We remain committed to delivering solutions on both our Microsoft and J2EE platforms as we view both platforms as critical to our current customer base, as well as a clear differentiator in the marketplace. Providing choice in functionality, technology platforms and deployment paths is essential to effectively meeting the rapidly growing needs of the entire insurance marketplace." The new company will operate under the name of Connecture, Inc. and retain existing operations in Atlanta GA and Waukesha WI. About Connecture Connecture is solely focused on delivering integrated web-based sales and service automation solutions to the health insurance industry. Connecture has automated elements of the insurance sales process for over 30 health and life organizations and its solutions currently support the sales and servicing of over $20 billion in annual premiums. Its industry-proven solutions encompass the entire spectrum of multi-channel insurance sales and services for group and individual markets. Connecture offers end-to-end sales platform as well as more narrowly focused modular solutions that fully integrate with existing legacy systems and that have proven to deliver increased sales, enhanced broker loyalty, improved back-office efficiencies, lower customer acquisition costs, and lower overall operating expenses. For more information, visit the company's website at http://www.connecture.com. About Riverwood Riverwood Solutions, headquartered in Waukesha, Wisconsin, builds enterprise software solutions for insurers, HMOs and TPAs that Web-enable core business processes, transforming and revolutionizing sales, enrollment, underwriting and renewal activities. In addition to its signature self-service product suite, eXpress, Riverwood Solutions also develops custom solutions for the insurance industry. For more information, visit the company's website at http://www.riverwoodsolutions.com.
SOURCE Connecture, Inc.
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