ExamOne Expands Services in Canada with Acquisition of Watermark Insurance Services Inc. and BW Underwriting Services Inc.
Transaction to Enhance Integrated Risk Assessment Services for Insurers and Life Insurance Applicants in Canada
LENEXA, KAN., June 20, 2017, ExamOne, the leader in helping insurers meet their underwriting needs, has entered into a definitive agreement to acquire Watermark Insurance Services Inc. and BW Underwriting Services Inc., national providers of underwriting services in Canada.
Based in Pickering, Ontario, Canada, Watermark Insurance Services Inc. and BW Underwriting Services Inc. have served the life insurance industry for more than 23 years and have established reputations as trusted partners for leading life insurance companies. Upon completion of the acquisition, Watermark and BW clients will continue to enjoy the high levels of customer service they receive today, and will have access to ExamOne’s broad menu of innovative services, including laboratory testing, information and call center services. Additionally, the transaction adds a new outsourced underwriting solution for ExamOne clients in the United States and Canada.
The existing leadership teams for Watermark Insurance Services Inc. and BW Underwriting Services Inc. will remain with the combined organization and will have critical roles in the combined business.
“We are excited about the opportunity to expand our capabilities in this important market,” said Troy Hartman, President, ExamOne. “The insights provided by ExamOne enable customers to make important decisions for a family’s future. Investing in Canada combines three companies that are dedicated to quality, service and innovation and will significantly enhance customer access and service.”
The transaction is expected to close in the third quarter of 2017. Financial terms were not disclosed.