UTRECHT, The Netherlands, December 23, 2015 /PRNewswire/ --
The acquisition strengthens Keylane's insurance presence in the DACH region, enriches its product portfolio with new functionality and provides for local delivery capabilities.
Keylane, a leading European provider of insurance and pension software solutions, is pleased to announce that it has acquired GENEVA-ID, a software supplier to the insurance industry with headquarters in Hamburg, Germany. This acquisition strengthens Keylane's insurance presence in the DACH region, broadens its product portfolio and provides for excellent local delivery capabilities. Last week Keylane and GENEVA-ID signed the definite agreement.
"We are very glad with this presence in Germany with high potential for several interesting new business opportunities," says Ronald Kasteel, Executive Board Member of Keylane. "GENEVA-ID provides high quality software to a large customer base spread over various countries in Europe. We trust that this acquisition enables us to expand our business to the DACH region and helps us in becoming the leading provider of flexible SaaS-based solutions for the insurance and pension industry in Europe.
"Thanks to the strong technology and business fit between GENEVA-ID and Keylane we expect rapid business growth in the DACH region," adds Martin Nußpickel, CEO of SUBITO, former owner of GENEVA-ID. "Based on the new company structure, existing as well as new clients can be served even better in the future. Together with Keylane, there is a solid base for assisting both non-life and life insurance companies in managing the challenges they are facing."
"Keylane and GENEVA-ID complement one another perfectly - in terms of the future product strategy as well as new business growth in Europe", add Alexander Pusch and Dr. Martin Schäfer, Management of GENEVA-ID. "The product consolidation of both companies enables us to support individual requirements of non-life and life insurance companies directly and to provide countable added values for future business models."
GENEVA-ID GmbH is one of the leading providers of software components for insurance companies. In 20 European countries, clients are using IT-Solutions from GENEVA-ID Focus areas are insurance core systems and distribution systems, both are available as on-premise solutions as well as Software as a Service (SaaS). Overall, about 100 employees are working for GENEVA-ID in Hamburg, Düsseldorf and Kevelaer.
Keylane is the market leader in the Benelux for flexible SaaS based solutions that underpin the core processes of life and non-life insurers and pension institutions. With continued expansion and offices also in Germany, the Nordics and the United Kingdom our ambition is to become the number one provider in Europe. Our solutions already have many satisfied users in over ninety well-known insurers and pension institutions. Our existing clients have achieved a range of benefits from adopting Keylane solutions including cost reduction, shorter time-to-market and increased customer satisfaction. With our deep industry expertise and world class technology, we are able to deliver outstanding solutions for all of our clients every time.
SUBITO is a well-established partner for financial service providers. CEO and owner of the current SUBITO is the co-founder Martin Nußpickel. SUBITO offers software solutions for the end-to-end credit process (consulting, credit extension and processing, recapitalisation and settlement of credits) for a broad range of products and clients as well as debt collection-software. Moreover, SUBITO offers product-independent consulting in the area of credit management and leasing as well as NPL outsourcing solutions.
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