LISS Systems has been acquired by global operations and analytics company, EXL.
EXL serves the insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics industries.
Headquartered in New York, EXL has more than 24,000 professionals in locations throughout the United States, Europe, Asia, Latin America, Australia and South Africa.
Guy Williams, director at LISS Systems said: "At LISS, we are passionate about innovation that creates genuine value for our insurance clients.
"EXL is a world-class service provider to the insurance industry and a leader in the shift to digital business models. We share a vision of how the insurance industry will evolve, and our combined capabilities create a compelling proposition.
"EXL was drawn to LISS on the strength of our industry experience, client relationships, and our expertise in delivering insurance software solutions. For LISS, being part of EXL means we have access to the technical and financial strengths of a large and growing global organisation, while retaining our entrepreneurial spirit in the UK."
Rohit Kapoor, EXL Vice Chairman and Chief Executive Officer said: "Consumers increasingly prefer using digital channels to purchase insurance, a trend that will require new business models to deliver superior customer experience.
"We are extremely impressed with the technological achievements and expertise of LISS, and while we are eager to integrate LISS's skills and experience, we are also mindful of preserving its culture, since it has been crucial to its success. With this transaction, we continue to invest in the innovation that the insurance industry needs to manage the changing market dynamics of a digital world."
LISS will become part of EXL's insurance business unit and continue to be based in London.
