The acquisition enables XDTI to leverage and scale its implementation, support, product, and technology teams.
Boston, MA, June 15, 2023 – XDimensional Technologies, Inc. (XDTI), a leading insurance technology provider backed by Serent Capital, announced today its acquisition of Shelton, CT-based insurance software firm I-Engineering. The combined talent, experience, and products of the organizations will enable both organizations to deliver more value to existing and new customers while increasing the strength of their implementation, support, product, and technology teams. XDTI will bring the companies together to serve the market.
The companies offer complementary products and services that address the needs of retail agencies, wholesalers, MGAs, program administrators, and carriers. With the acquisition, XDTI will be able to enhance its capabilities to address the growing MGA space.
“We are excited to become part of the XDTI organization and see this as a tremendous opportunity for our team, our customers, and the industry overall. Combining both companies will provide a broad range of products and services with strong support to Retailers, MGAs, MGUs, Program Administrators, and Wholesalers nationwide,” stated Naval Kapoor, Founder, Chairman & CEO of I-Engineering.
“This acquisition enables us to offer a more robust portfolio of insurance solutions to offer the market,” said Lani Cathey, CEO of XDTI. “Adding the product suite from I-Engineering, along with their talented team, allows us to grow the combined company and better serve our customer base of over 400 entities focused on the insurance sector.”
Sherman & Company advised I-Engineering on the transaction.
Lincoln International served as the sole financial advisor to Serent Capital and XDTI in its acquisition of I-Engineering.
About I-Engineering, Inc.
Since 1999, I-Engineering has led the industry in customized P&C solutions that simplify how MGAs, Wholesalers, Program Administrators, and Carriers do business. Their comprehensive platform enhances productivity and speed to market. I-Engineering’s advanced technology suite includes ALIS – an all-encompassing agency management system, PUMAA – a powerful modern point-of-sale underwriting platform, ACE-HUB – a bi-directional translator that exchanges data between agents and carriers who directly rate for a single or multiple markets, SPIDER – an exchange between wholesalers and admitted markets. SkySource is a cost-effective backend office service and an extensive collection of seamless third-party integrations. At I-Engineering, we provide innovative solutions to modernize your office, coupled with unmatched service and support.
I-Engineering is a proud member of many P&C insurance organizations, including Target Markets, WSIA, CIWA, FSLA, PIA, and TSLA. To learn more, visit i-engineering.com.
About XDimensional Technologies
XDimensional Technologies, Inc. (XDTI) develops and markets the Nexsure Insurance Platform, a single, comprehensive platform that supports all players in insurance distribution, including retail agencies, wholesalers, agency networks, program administrators, MGAs, and carriers, without creating the need to evaluate new technologies as a business grows and evolves. Learn more at xdti.com.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. At Serent Capital, principals have firsthand experience capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful, growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.