Deloitte Australia has acquired tech specialist 4impact as part of a move that it says will make it “one of Australia’s leading certified Guidewire consultants”.

Deloitte says 4impact’s expertise with Guidewire, the widely used insurance-focused cloud service, was a critical part of the appeal of the purchase as the risk assessor looks to boost its tech sector.

The 4impact team will join as Guidewire Partners to Deloitte from October 4, boosting the firm’s Guidewire team by around 50 members, including former 4impact CEO John Ryan who will become a Deloitte Consulting partner.

“This is a logical next step, combining this group’s experience with Deloitte’s global Guidewire experience and resources to create the leading service in our region,” Mr Ryan said.

Deloitte says the “well-timed” acquisition comes as the industry faces increased pressures on margins from underwriting challenges, increased regulatory risks and climate change-induced risk profiles, and “lower market entry barriers due to insurance technology platforms”.

“Guidewire solutions are widely used across the sector in Australia and Asia. 4impact is the largest Guidewire certified specialist team in the region and their deep experience will be a strong addition to our market offerings that connect strategy with leading edge technology solutions,” Deloitte National Financial Services and Insurance Leader Arthur Calipo said.

“Technology trends surrounding cloud, applied AI, IoT and blockchain are critical to the successful transformation industry players need to pursue.”

Guidewire MD Asia Pacific Rolan Slee praised the move saying the combination of skills between the two groups “will only accelerate Guidewire’s mission of powering insurance innovation”.