What is Acturis’ Strategy Following ICE-Tech Merger?

Insurance software group Acturis is to merge ICE InsureTech (ICE) and Nordic Insurance Software (NIS) to form a new entity called ICE-Tech, which will leverage the respective strengths of each company.

Founded in 2002, ICE and NIS have each built strong, credible positions in their respective markets, delivering complex insurance programmes across personal and speciality lines for major insurance brands. 

At the core of ICE-Tech is an AI-native SaaS platform spanning policy, claims, assistance, analytics and digital, enabling an open, secure and compliant approach to intelligence across its solutions and partner ecosystem.

This AI-native foundation enables ICE-Tech to orchestrate an open, secure and compliant AI-enabled ecosystem, allowing insurers to integrate with ICE-Tech’s Alice AI solutions, their own AI or partner solutions within a governed framework.

ICE-Tech will help insurers modernise faster by avoiding long, rigid programmes and enabling measurable progress early, with the business firmly in control of outcomes and cost.

The companies boast a number of significant case studies. For example, a major policy administration and digital transformation programme for Aviva was undertaken in under 12 months, demonstrating how quickly measurable impact can be achieved within a Tier 1 client. 

ICE-Tech brings deep expertise across personal and speciality lines, including motor, home, travel, pet and IPMI, with proven delivery across Tier 1 programmes, specialist insurers, MGAs and TPAs.

Building for the future

Riteesh Singh, CEO at ICE-Tech, says: “ICE and NIS have each built strong reputations over more than two decades by delivering consistent, measurable business transformation for insurers, MGAs and TPAs across tiers and geographies. 

“Bringing the two businesses together allows us to build on that shared success - combining deep domain expertise with greater scale and an AI-native platform designed to deliver true business agility, responsible AI and long-term resilience for our customers.”

In the last few years, ICE and NIS have launched enterprise-scale cloud deployments across AWS and Azure and introduced real-time APIs and GraphQL. 

The combined business is now evolving its AI capabilities across underwriting, claims, service and operations. 

The company has offices in the UK, Denmark, Poland and Malaysia, with the latter becoming the base for targeted expansion across Asia Pacific. 

Alongside Riteesh sits Al Robertson, who is Chief Technology Officer, and Caspar Søgaard-Hansen, who is responsible for heading up the company’s product lines.

Acturis pre-dates the merged companies, and now has a global platform with 100,000 users.

ICE-Tech sits alongside six other companies in its portfolio: Acturis SaaS, Acturis Canada, Germany and France, Broker Buddha and commercial e-trading company Add Value Assurances, which belongs to Acturis’ French business. 

Acturis has made a string of acquisitions over the last few years and is clear on its intention to expand into new markets.

Acturis is governed by co-CEOs David McDonald and Theo Duchen with its London base in the capital’s jewellery quarter of Hatton Garden.

Technology teams fully occupied as sector transforms

Insurance companies are trying to digitally transform at pace, and artificial intelligence is key. However, the sector is also grappling with cybersecurity issues, cloud transformation, updated risk modelling and trust architectures.

AI is accelerating fraud detection within claims correspondence, streamlining Know Your Customer (KYC) processes and enabling real-time customer assistance through intelligent chat interfaces, with deployments expected to scale through 2026.