Watchstone insurance software business to operate as integrated unit within Acturis

Software house Acturis has bought the ICE suite of insurance software products from Watchstone unit Hubio Technologies.

The ICE insurance software products – which include ICE Claims, ICE Policy, ICE Billing, ICE Analytics, ICE Rating and ICE Digital – now form part of a new company called ICE InsureTech Ltd.

ICE insureTech will operate as an integrated unit within Acturis.

The ICE products have some high profile users in the insurance industry, among them specialist Lloyd’s motor insurer ERS.

The product quite covers both commercial and personal insurance and is sued by isnurers, accident management firms, third party adjusters and insurance service companies.

The news of the ICE sale follows Watchtone’s announcement earlier this year that it is preparing its remaining units for sale.

Acturis co-chief executive David McDonald said: “The team at ICE InsureTech has done an excellent job in continuing to develop the ICE product suite and customer base over that past few years.

“We believe that the ICE product suite offers a proven, modern, configurable system which can be implemented quickly to deliver massive benefits to insurers at a fraction of the cost of the some of the alternatives in the market.”