SE2, a life and annuities insurance technology and services firm, today announced it has acquired Convergent Financial Technologies, growing its SaaS based product offerings for the insurance and retirement solutions industry.
UV Cloud is a highly scalable native cloud platform that enables effective management of assets and calculation of unit values for a broad range of variable products - mutual funds, alternative investments, and retirement products. The product suite provides insurance carriers strong reporting and data analytics capabilities, delivered through SaaS or as a bundled service offering. UV Cloud accelerates transformation of fund management, pricing, and trading needs.
"We share a common goal of helping insurance and retirement solution providers leverage advanced technology to deliver superior outcomes for producers and end customers," said SE2 CEO, Mark Schultis. "We are excited to welcome the Convergent team to the SE2 family and build upon the success of UV Cloud.”
"This deal is a perfect fit for both Convergent and SE2, given our complementary offerings and joint focus on providing digital enablement tools," said Convergent CEO, William Bolton. "Together, we will continue to strengthen UV Cloud’s leadership position and partner with our customers to enhance efficiency, mitigate risks, and grow their business.”