Software house Acturis is to begin making acquisitions and is looking to grow internationally.
The company, which is currently focused on the UK insurance sector, is also looking to widen its target industries.
Chief executive Theo Duchen told Insurance Times: “We are looking at acquisitions at the moment. We are looking at niches and also looking to move into allied industries [to the insurance sector].
Duchen declined to elaborate on the allied sectors the company was looking at. “We are also looking internationally,” he added.
He also refused to comment on recent reports that Mike Dodd, a director of rival software house SSP, is to join Acturis.
Dodd, who was chief executive of UK systems at Sirius prior to its recent acquisition by SSP, is viewed as an excellent salesman who would provide a strong boost to Acturis’ new business drive, if the reports prove true.
SSP confirmed last week that Dodd had left the company.
Meanwhile, Acturis is set to achieve 4,000 users by the end of the year, and had achieved 50% organic growth in revenues in 2007, Duchen said.
According to the latest figures filed with Companies House, Acturis achieved a 37% growth in revenues for the year ended 30 September 2006. It also delivered a “positive operating trading performance”.
As a small company, Acturis does not file full accounts. Its turnover is thought to be about £7m.
Meanwhile, Leeds broker Bartlett Group has gone live with the Acturis system for its 75 general insurance staff. Bartlett previously used Sectornet software.
Bartlett chief executive Steve Riddick said: “With legacy data migrated to a very high standard, enhanced functionality and an increasing number of electronically traded commercial products we believe that Acturis will not only make us more efficient, but also open up new markets to us.”
