Servion acquires Zurich-based Insurtech company


Servion Global Solutions has acquired Innoveo AG, an InsurTech Cloud software provider.


Founded in 2007, Innoveo AG (formerly known as Pactera Switzerland AG) has offices in Zürich, Hong Kong and Budapest and services some of the world's largest insurance companies with its product Innoveo Skye. This is a multifaceted, cloud-based technology suite, which enables digitalization of insurance processes and accelerates insurance product launch cycles; up to ten times faster as compared to other solutions. This enables businesses to enhance their Customer Experience significantly.

The powerful Innoveo Skye Business Canvas, a tool designed to be used by non-technical business users, allows insurance companies to streamline new product development and maintenance activities. Furthermore, the Innoveo Skye solution expands the product delivery options by offering omni-channel digital capabilities, as well as improved agent and consumer user experience.

Servion serves organizations in more than 60 countries
With expertise spread across consulting, implementing and managing Customer Experience Management (CEM) solutions and technologies, Servion enhances the effectiveness and efficiency of customer interactions for over 600 organizations across more than 60 countries. On an average, Servion’s solutions handle over 10 billion multi-channel interactions every year across multiple channels and industry verticals. The company was founded in 1995 and is headquartered in Chennai, India.

Puneet Pushkarna, Chairman, Servion Global Solutions and new Chairman of Innoveo AG, stated: “Innoveo’s cutting-edge solutions, backed by their outstanding team, offer a unique and strong investment opportunity. We are excited to work with the management and employees and look forward to leveraging our deep understanding of the sector, to help the company strengthen its leadership position in the InsurTech space.”

Nick Stefania, co-founder and CEO at Innoveo, said, “This is an extraordinary turning point in our company’s history since we started in 2007. We’ve already demonstrated our solution’s capability in creating value for insurance companies across the world. Now, we’ve found the right partner, it will enable us to scale and play an important role in the global InsurTech market.”

Sameet Gupte, CEO of Servion Group stated, “The acquisition of Innoveo not only strengthens the group’s focus on Omnichannel Cloud offerings, but also propels us in the InsurTech space. We are very excited to leverage the Innoveo Skye software platform globally along with our existing platforms such as ServIntuit, ServInsights, LCM, U-Nexsys, iAssit, and RapCTI.”

Picture: Sameet Gupte, CEO Servion Group.

(Press release)