MDI Acquires CTrax and Claims Manager: Expanding Portfolio in Insurtech Software 

 
FOR IMMEDIATE RELEASE 

Birmingham - May 24, 2024 – Management Data, Inc a leading provider of end-to-end policy administration system solutions for the life insurance, health and annuity industries, is pleased to announce the acquisition of CTrax and Claims Manager, two prominent platforms specializing in Certificate of Insurance tracking (COI) and claims management software. This strategic move underscores MDI's commitment to software solutions for the insurance sector expanding its offering into the property and casualty markets through COI management and claims processing. 

With this acquisition, MDI strengthens its position as a market leader in insurtech software. Claims Manager and CTrax will supplement MDI's existing product portfolio providing clients with access to robust platforms that manage the insurance claims process and certificates of insurance. MDI has a track record of providing world-class software to customers of all sizes in the life insurance and annuity markets through its award-winning policy administration system, FIMMAS.    

"MDI is thrilled to welcome CTrax and Claims Manager into our family of products," said Awais Shaikh, CEO of MDI. "These acquisitions align perfectly with our mission to empower insurance professionals with innovative technology solutions. By combining the strengths of MDI with the expertise of CTrax and Claims Manager, we will enhance our ability to deliver unparalleled value to our clients." 

CTrax is renowned for its advanced COI management capabilities, enabling users to streamline the process of tracking, verifying, and managing certificates of insurance. Meanwhile, Claims Manager offers comprehensive claims management tools for all lines of business; facilitating efficient claims processing and risk assessments. 

Existing clients of CTrax and Claims Manager can expect a smooth transition process, with MDI committed to providing uninterrupted support and service. Additionally, MDI plans to enhance the features and functionality of both platforms, incorporating feedback from clients and industry experts. 

This acquisition marks a significant milestone for MDI as it continues to expand its presence in the insurtech software market. By adding CTrax and Claims Manager to the MDI product portfolio, the company aims to set new standards for excellence in insurance management software. 

For more information about MDI and its suite of insurance software solutions, visit MDI Digital Insurance Platform | Home (mdisoftware.io) 

About MDI: MDI is a leading insurtech company specializing in software solutions for the insurance industry. Striving for excellence, reliability, doing the right thing, ownership and community are core to MDI, fueling a commitment to client success. MDI's market-leading, cloud-based solutions have a proven track record in streamlining policy administration and optimizing risk evaluation and claims processing, boasting easy implementations and extensive built-in features. FIMMAS, CTrax, and Claims Manager are flagship digital insurance platforms that grow with you and stand out for their comprehensive end-to-end functionality, advanced COI management, and robust property insurance tools. MDI is dedicated to innovation and client satisfaction, empowering insurance professionals to outpace their competitors in the market. Learn more at mdisoftware.io. 

Contact Information: Andrea McCaherty, Marketing Director, andrea.mccaherty@mdiclaims.io