Exton-based iPipeline, which sells cloud-based digital policy paperwork and other applications to life insurers, says it has bought Chicago-based Resonant, which sells integrated life insurance software, for a price iPipeline won't disclose.
The combined companies' revenues approach $150 million, with more than 500 employees. iPipeline is also considering "more transformative acquisitions," chief marketing officer Michael Persiano told me.
Both companies help replace human workers with automated applications, said iPipeline CEO Tim Wallace in a statement. "Our goal is to take the complexity out of the underwriting tasks through automation while allowing each insurer to manage to their risks" and speed sales growth.