News

Fiserv acquires InsureWorx

September 18, 2006

BROOKFIELD, Wis. - Fiserv Inc. has acquired InsureWorx, a provider of core processing software solutions for workers' compensation, commercial property and casualty (P&C), and risk-administration organizations.

According to a news release, Oakland, Calif.-based InsureWorx will become part of Fiserv Insurance Solutions.

Fiserv's new P&C solutions operation will provide technology solutions and professional services to more than 60 workers' compensation carriers and state funds in North America. Gary Sherne, chief executive of InsureWorx, will assume the role of president of Fiserv's P&C solutions operation.

InsureWorx reported annual revenue of $43 million 2005. Other details of the transaction were not disclosed.