Hypoport further expands its business unit Insurance Platform
Berlin, 28 September 2017: On 27 September 2017, Hypoport AG concluded an agreement to acquire all of the shares in IWM Software AG via its wholly owned subsidiary Smart InsurTech GmbH. The acquisition will see Hypoport AG, which is included in Germany's SDAX stock market index, add new customers, employees and technology to the insurance platform business that it launched at the beginning of 2017. IWM employs around 50 people and in 2016 generated revenue of more than €3 million. Its software products are used by more than 1,600 insurers and financial services companies and 20,000 end users. The parties have agreed not to disclose the purchase price.
"After having integrated the customers, employees and technologies of NKK, INNOSYSTEMS and maklersoftware.com, and following the recent acquisition of Volz Software GmbH and Volz Vertriebsservice GmbH, we again use our leading position in the insurtech market for a further acquisition," explains Stephan Gawarecki, the member of Hypoport's Management Board responsible for the insurance platform business. "We are now delighted to welcome another company to the Hypoport Group in the shape of IWM. Together, we will drive forward the digitalisation of the insurance industry and further accelerate the growth of our business unit Insurance Platform."
This platform covers the full range of business processes and functions for insurance brokers. In addition to the traditional consultation and sales functions, the platform provides a standardised interface between brokers and insurers. It offers a seamless link between all insurance processes - from the transfer of portfolios and writing of policies to the calculation and settlement of commission. This offers considerable benefits for insurance companies, industrial policyholders and sales organisations, which can make significant savings in administration and IT. Insurers can also use the platform to quickly launch new products onto the market. Digital business processes, including those involved in the setting of insurance rates, the automated issuance and management of policies, and the retrieval of portfolio data and documents, are based on bipro standards. Further information on the insurance platform can be found at www.smartinsurtech.de.
Information on Hypoport AG
Hypoport AG is the parent company of the Hypoport Group. The subsidiaries of the Hypoport Group are engaged in the distribution of financial services, facilitated or supported by financial technology ('fintech'), and are divided into four business units.
The Credit Platform business unit operates EUROPACE, which is an online financial marketplace and the largest German software platform offering mortgages, building finance products and personal loans. A fully integrated system links more than 450 partners - banks, insurers and financial product distributors. Several thousand loan
brokerage advisors execute some 35,000 transactions per month on EUROPACE, generating a volume of around
€4 billion. Besides EUROPACE, the FINMAS and GENOPACE sub-marketplaces and the B2B distribution companies Qualitypool and Starpool support the growth of the credit platform.
The Private Clients business unit, made up of the web-based, non-captive financial product distributor Dr. Klein Privatkunden and the consumer comparison portal Vergleich.de, brings together all business models aimed at directly advising consumers on mortgages, insurance or pension products.
The Institutional Clients business unit, operating under the DR. KLEIN Firmenkunden AG brand, is a leading financial service partner to housing companies and commercial property investors.
The Insurance Platform business unit operates Smart InsurTech, a platform for advice, comparison of tariffs and the administration of insurance policies.
Hypoport AG is headquartered in Berlin, Germany, and has around 1,000 employees. Its shares are listed in the Prime Standard segment of the Frankfurt Stock Exchange (Deutsche Börse) and have been included in the SDAX since 2015.
Hypoport AG Jan H. Pahl
Investor Relations Manager Phone: +49 (0)30 / 42086 - 1942
Mobil: +49 (0)176 / 965 125 19
Email: firstname.lastname@example.org www.hypoport.de
Key data on Hypoport's shares
ISIN DE 0005493365
Stock exchanges symbol HYQ
Hypoport AG published this content on 28 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 September 2017 10:14:02 UTC.