TORONTO, August 1, 2013 – illustrate inc a leading provider of life insurance illustration and point-of-sale technology in North America today announced the purchase of the Lewis & Ellis Illustration Software Division. "The combination of these two life insurance illustration leaders, fits well with our growth strategy and expansion in the U.S.", said Lorne Brown, President of illustrate inc. "We have been a leader in the life insurance illustration and point-of-sale market in Canada for over 23 years with our innovative True Engine Architecture . With the acquisition of the L&E Software Division, we expand our reach in the U.S. market and we are very excited about the knowledge, experience and actuarial expertise the L&E staff will bring to illustrate. " stated Brown.
L&E has been a leading actuarial consulting organization since 1968 with an outstanding reputation for professional expertise, integrity and service. That reputation extends to the Software Division that has been delivering new business and in force insurance illustration software for all life & annuity products since 1985. "Our people have a tremendous reputation in the market for their product expertise and knowledge of tax & compliance regulations affecting illustrations" said Dave Batchelder, A.S.A., former head of the L&E Software Division, and now a Vice President with illustrate inc . "We are excited to bring these two companies together and offer illustrate's advanced technology to our customer base", Batchelder continued. "Our customers have been asking for tablet and mobile technology for a while now and illustrate's OPUS Mobile solution is the industry leader."
L&E will continue to focus on actuarial consulting services, while the Software Division, which will continue to be located within the Kansas City L&E office, will now become the U.S. office of illustrate inc . The acquisition will benefit both companies' illustration customers by offering:
1) Greater financial strength;
2) Expanded resource capabilities with significant experience in U.S. and Canadian illustrations;
3) U.S. product and regulatory knowledge;
5) Expanded market reach for companies doing business in both the U.S. and Canada.
"We look for this to be a very smooth transition, with minimal impact to either customer base" said Brown. "We both have been in the business for a long-time and we know how to service our customers. The benefits offered by this acquisition will allow us to continue to improve our service, enhance our capabilities and deliver the industry's top illustration solution." Brown continued.
About illustrate inc
illustrate inc is a privately held company with significant expertise in illustration and point-of-sale systems used in the insurance and financial services sectors. illustrate inc has grown steadily over the past 20 years as a result of its hard focus on addressing industry need for efficiency, effectiveness and speed to market. With clients in Canada, the US and abroad, illustrate inc continues to evolve to anticipate and meet the changing needs of the insurance and financial services industries. For more information, please visit www.illustrateinc.com
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