Ropes & Gray has advised the founders of TCP LifeSystems – a software solutions provider to life and pensions insurance companies – on their sale of the company to iPipeline UK, a leading provider of business intelligence to the UK life, pension and investment markets.
The financial terms of the deal, which was announced on 3 January 2018, have not been disclosed.
TCP LifeSystems provides a quick and efficient end-to- end software solution, underpinning insurance policy administration, underwriting, and acting as a central communication exchange point between customers, advisers, providers and reinsurers. Their unique self-service capability allows customers and intermediaries to manage policies in an instant. TCP LifeSystems’ New Business Underwriting solution has reduced processing time from an average of 34 days to as little as 15 minutes with 95% cases written online and 80% executed via straight-through processing – with no human intervention.
The Ropes & Gray team was led by private equity partner Helen Croke (Picture), assisted by private equity associates Philip Fogarty and Electra Callan, all based in London.
Law Firms: Ropes & Gray;
Clients: TCP LifeSystems;