An insurance distribution technology company has shown that U.S. deal-making machinery may be creaking back to life.
Hexure, the Colorado Springs, Colorado-based life and annuity distribution tech firm known for running the FireLight sales support system, announced Monday that it has acquired Vive Solutions, a Providence, Rhode Island-based life insurance tech platform.
Thomas H. Lee Partners, a private equity firm, acquired a majority stake in Hexure in 2020, and the partners have made a point of their enthusiasm about the company's prospects.
Hexure executives said they made the deal to improve the firm's ability to offer support for sales of life insurance, other insurance products and annuities through one system.
Hexure and Viva have not disclosed the deal price or other transaction terms.
The players: Hexure, previously known as Insurance Technologies, was founded in 1995 and provides support for sales of life insurance and other insurance products as well as for annuity sales. FireLight may still be better known for annuity sales support.
Customers can use the systems to attract prospects; provide quotes; prepare, check and track applications; and support clients after products have been sold.
