Prima Solutions Strengthens Its Software Offering by Acquiring Tricast, Expert in Data Analysis Solutions and Predictive Algorithms for the Insurance Industry
In accordance with its ambitious international development strategy and with the support of The Carlyle Group, its new shareholder, Prima Solutions, French insurance software vendor, today announced the acquisition of Tricast, a company specialized in analysis and predictive tools.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171016005025/en/
Based in Paris and created in 2000 by Jean Boudy, Tricast partners with nearly 50 clients across a variety of countries in Europe, South America, the Middle East and Asia, offering them access to an fully-integrated insurance analysis software platform comprised of data and predictive algorithms and aimed at improving the market position and technical margins of its end users.
This acquisition will allow Prima Solutions to enrich its software offering and to market this customized technological and scientific capability, designed to optimize the results and operational efficiency of clients. On an international scale, this acquisition gives Prima Solutions the possibility of successfully reaching new markets within Europe, the Middle East, Latin America and Asia.
The merger of these 2 software platforms also strengthens Prima Solutions’ capacity to provide an insurance solution adapted to new on-demand insurance products linked to behavioral trends (such as ‘Pay how you drive’ and usage-based policies) and based on connected solutions. This capability is enabled by actuarial analysis of big data.
Following this acquisition, Tricast’s personnel will be fully employed by Prima Solutions and will be managed by the current executive team, including the President Hugues Delannoy, as well as the CEO Rodolphe Peim.
“This agreement concluded with Prima Solutions has the objective of opening up a full-service digital software platform to insurance professionals, able to meet their operational needs, including the improvement of client relations, insurance policy management and claims handling, and, in addition, optimizing technical margins. Our clients will naturally continue to benefit from the same level of quality as they have up to now and will furthermore have access to Prima Solutions’ capabilities and innovative products,” stated Jean Boudy, Founder and CEO of Tricast.
“We are delighted to welcome Tricast into the Prima Solutions group. This strategic match enables us to greatly strengthen our software offer while proposing a complementary expertise to our clients, which is central to the improvement of technical margins. This acquisition demonstrates our determination to pursue our new growth strategy, particularly on an international scale by targeting new markets beyond our initial borders, with the support of our new shareholder,” adds Hugues Delannoy, President of Prima Solutions.
The acquisition of Prima Solutions in partnership with its management team has now been finalized. The investment was made by Carlyle Europe Technology Partners III, a €657 million Carlyle fund focused on European technology, media and telecommunications (TMT) companies.
In order to improve the competitiveness and technical margins of insurers, banks, cooperatives and wholesalers, Tricast provides a range of analytical and simulation tools, which are technically innovative, scientifically sophisticated and easy to use:
- Business monitoring, profit centre follow-up, business simulations, stress scenarios
- Report generation, Insurance specific on-line dashboard with key performance indicators
- Risks and clients segmentation, Cross and Up selling, Lapse rate reduction
- Actuarial tools for pricing and reserving
- Reinsurance optimization
- Stimulations tools to analyse the consequences of decisions
- Fraud detection
The Tricast software is used by management teams, who benefit from a
comprehensive set of features and easy-to-use user interfaces. It is
delivered as a single platform with a modular approach.
To learn more, visit www.tricast-group.com
About Prima Solutions
Prima Solutions delivers the software platform Property and Casualty
insurers need to gain in agility and succeed in a time of rapid industry
change. Full web, modular, multilingual and available in SaaS mode,
Prima Insure™ addresses the whole life cycle of an insurance policy:
distribution; underwriting; contract; claims and financial management.
More than 20 Property and Casualty insurers, including Allianz, AXA,
Société Générale Insurance, PSA Insurance, CoverLife, Galian, Groupama,
Hiscox, Mutuelle des Motards or Gras Savoye Willis, have already
selected Prima Insure™. Prima Solutions is a member of ACORD.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $170 billion of assets under management across 299 investment vehicles as of June 30, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.
Frédéric DUTREUIL, +33(0)1 70 91 13 16 / +33(0) 6 24 04 23 39
Leslia MADUBOST, +33(0)1 70 91 24 78
Steele&Holt (The Carlyle Group)
Daphne Claude & Dominic Riding
+33(0) 6 66 58 81 92 / +33(0) 6 57 48 83 24
Catherine Armstrong (The Carlyle Group)
+44(0)207 894 1632 / +44(0)7429 421 037
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