iCapital Acquires Hexure: Advancing Insurance Technology
iCapital has reached a conclusive agreement to acquire Hexure, a company specializing in digital and AI-driven sales automation within the insurance, financial services, and wealth management sectors. This strategic acquisition aligns with iCapital's objective to strengthen its footprint in the annuities and insurance technology arena. By merging Hexure's innovative features with its own, iCapital aims to create a comprehensive end-to-end platform encompassing everything from product discovery to post-sale support.
The acquisition underscores the ongoing integration within the insurance and alternative investment markets. As insurance carriers, asset managers, and distributors collaborate, the focus is on advancing solutions geared towards retirement income and investor diversification. Technology plays a vital role in this ecosystem, enhancing education, regulatory compliance, and client service offerings.
Integrating Hexure's FireLight and ForeSight technologies will enable iCapital to effectively manage expansive annuity and life insurance processes. This transformation will turn a historically fragmented system into a unified experience for advisors and clients. Operating with an open-architecture system, Hexure will remain part of iCapital, supporting third-party integrations across the insurance and investment landscape.
Expanding Technology Capabilities
Currently, iCapital oversees more than $1.14 trillion in global assets, with considerable investments in alternatives, structured investments, and annuities. The platform supports over 3,300 wealth management firms and 123,000 financial professionals globally. The transaction details remain undisclosed, with BofA Securities serving as the financial advisor for iCapital.
iCapital's Chairman and CEO, Lawrence Calcano, stated, "iCapital provides an integrated technology platform serving as an operating system for alternative investments, structured investments, and annuities. Hexure’s software solutions will enable us to support the insurance ecosystem comprehensively, from innovation to seamless execution, expanding opportunities for our clients and the industry."
Bill Lucchini, CEO of Hexure, remarked on the synergy, "Joining iCapital allows us to amplify our technology's reach and deliver greater value to our clients. Our recent progress positions Hexure for an exciting new phase. Together, we will enhance critical sales and servicing workflows, helping firms increase efficiency, scale confidently, and better serve end investors."
Ganesh Rao and Ed Shahnasarian from THL Partners added, "The interconnected nature of the insurance, alternatives, and wealth ecosystems heightens the demand for technology that simplifies product delivery and management. We believe iCapital offers an optimal strategic home for scaling Hexure’s capabilities, delivering a truly integrated platform for the industry."