Xceedance has acquired US-based Marble Box, which provides tailored back-office services to independent insurance brokers and agencies.

The purchase comes after the tech consultant group said last year it planned to buy insurance-focused service providers from the $US100 million ($148.42 million) capital it has raised.

“This acquisition marks Xceedance’s entry into the agent and broker ecosystem, underscoring its commitment to modernising distribution operations,” the company said.

“Agencies and brokers sit at the centre of the distribution process, yet legacy processes, fragmented tools, manual hand-offs and inconsistent carrier data formats still hinder day-to-day servicing.”

Xceedance says Marble Box has an established team that supports more than 140 agents and brokers to process millions of transactions a year.

“We’re starting with an expert operations team that deeply understands the work, and we’ll support that investment with technology, data integration and practical automation to improve control, visibility and reliability,” EVP of insurance life cycle and operations Prashant Tekchandani said.

Senior VP for Americas Peter Flynn added: “Together, we will reimagine distribution operations from the ground up, delivering a new standard for speed, control and client experience.

“This is a key step in building a modern, tech-powered operating model for agents and brokers, and we intend to set the pace for the market.”