Actuarial and consulting firm Milliman USA has completed an agreement to acquire the assets of Philadelphia-based insurance technology vendor Focus Solutions Inc.
Under the agreement, all employees will be transferred to Milliman USA.
The acquisition includes a license to Focus Solutions' sales automation software, goal:technology. Milliman will combine the Focus technology with its existing Fast policy administration system to launch its Straight Through Enterprise Platform (Step), a business processing system for life and health insurance firms.
Pete Deakins of Milliman USA, says: "Milliman Step Solutions will offer a platform to process new insurance business from any distribution channel beginning with the application and underwriting through to administration."