Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor
Mergers and Acquisitions written on stock ticker board

Life Health > Running Your Business > Selling

FireLight's Parent Acquires Tech Platform

By Allison Bell

X
Your article was successfully shared with the contacts you provided.

An insurance distribution technology company has shown that U.S. deal-making machinery may be creaking back to life.

Hexure, the Colorado Springs, Colorado-based life and annuity distribution tech firm known for running the FireLight sales support system, announced Monday that it has acquired Vive Solutions, a Providence, Rhode Island-based life insurance tech platform.

Thomas H. Lee Partners, a private equity firm, acquired a majority stake in Hexure in 2020, and the partners have made a point of their enthusiasm about the company’s prospects.

Hexure executives said they made the deal to improve the firm’s ability to offer support for sales of life insurance, other insurance products and annuities through one system.

Hexure and Viva have not disclosed the deal price or other transaction terms.

The players: Hexure, previously known as Insurance Technologies, was founded in 1995 and provides support for sales of life insurance and other insurance products as well as for annuity sales. FireLight may still be better known for annuity sales support.

Customers can use the systems to attract prospects; provide quotes; prepare, check and track applications; and support clients after products have been sold.

Vive runs a platform that can help clients provide term life insurance quotes and submit applications to insurers.

The platform provides the Vive Score, which gives Vive’s assessment of how much value a term life policy provides for the consumer. The platform also provides an automated case-status tracking tool.

Vive has relationships with about 55 brokerage general agencies, or distributors, and about 20,000 agents and advisors.

The deal: Laird Rixford, Hexure’s chief executive officer, said the Vive deal will improve Hexure’s ability to support sales of term life, permanent life and annuities through a single platform and will also expand its distribution network and connections with insurers.

“The future of this industry will be built on interoperability and the enablement of a smooth sales workflow,” Rixford said.

The Hexure deal announcement said that “the Hexure and Vive teams are committed to building a unified platform that continues to support and power leading agencies already using Vive as well as Hexure’s existing FireLight clients. The combined technology will be available to every carrier and broker in the industry.”

Credit: Adobe Stock

Allison Bell

Think_Allison

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.