M&A Transaction of the Year goes to CFC
CFC's collection of recent acquisitions won M&A Transaction of the Year at last night's Insurance Insider Honours
Much of the M&A activity in the insurance market has a primary objective of growing market share.
But at CFC, we've taken a different approach M&A. Our first ever transactions in our 20 year history haven't been focused on growing into new lines of business, but rather on acquiring technology and expertise to supplement our existing capabilities and build out our value proposition in our core line of business, cyber.
With the frequency and severity of cyber claims growing and the market becoming crowded with new entrants, we recognised the need to continue to set the benchmark and distinguish ourselves from our competitors.
The acquisitions of Solis Security in Austin, TX and Insane Technologies on the Gold Coast in Australia allowed us to expand and deepen our bench of highly skilled in-house technical experts who form the frontline response to any client cyber event. The result is that we can provide customers with an even faster resolution to their cyber events, greatly reducing their business downtime and costs.
The result is that we can provide customers with an even faster resolution to their cyber events, greatly reducing their business downtime and costs.
And recognising that data enrichment technology helps insurers better understand their customer’s exposures by compiling information about their risk profile from a variety of external sources, we acquired insurtech business, ThreatInformer. With their help and our existing suite of propriety technology, we’ve been able to streamline and improve the underwriting process as well as uncover patterns in claims data to help predict and prevent client losses – delivering time critical information to our customers via a mobile app.
Not only has it been immensely exciting to welcome new team members from across the globe on board, but we're so proud of how they've helped us broaden what we can offer to our brokers and policyholders. We're humbled that the success of these transactions were recognised at the 2021 Insurance Insider Honours.
Thanks to Insurance Insider and all of our partners. Already looking forward to next year!