Charles Taylor has acquired the remaining stake of Otak, an insurance technology platform.
With this acquisition, Charles Taylor moves to full ownership of Otak and its product Tide, after previously owning a controlling majority stake. Tide is a cloud-based data streamlining solution that was developed by Charles Taylor and Otak.
According to the firm, Tide “automates the handling of delegated authority information to help the global insurance market reduce processing and compliance costs, improve data integrity and make data-driven decisions”.
Arjun Ramdas, CEO Charles Taylor InsureTech: “Technology-enabled solutions lie at the heart of Charles Taylor’s business.
“We are always looking at ways we can help our clients solve complex problems through innovative solutions, and our acquisition of the remaining stake in Otak, and full ownership of Tide enables us to offer greater responsiveness and flexibility to clients in this space.”