IBA acquires IO Group to strengthen and expand strategic offerings

Press Release IBA: 1st of May 2025
Copenhagen, Denmark

IBA and IO Group are pleased to announce the formalization of their long-standing collaboration with IBA’s acquisition of IO Group. This acquisition marks the evolution of a successful 10+ year partnership, transforming it into a fully integrated and end-2-end joint customer community offering, augmenting the cloud-based IBSuite platform with “out of the box” capabilities, that larger insurers usually establish themselves at a high cost. This customer community offering has until now been targeting the small and mid-sized insures in Denmark and with this acquisition we will now introduce this customer community offering to the small and mid-sized insurers in Norway as well.
The offering includes things like portals, lightweight reporting/Datawarehouse modules, AI components and solutions for archiving e-mails and documents directly from Microsoft Outlook etc. Furthermore, IO Group has developed product- and process templates on top of IBSuite – all designed to accelerate digital transformation and provide scalability for clients. This customer community will provide relevant capabilities, flexibility, and speed to value for the small and mid-sized insurers, enabling them to efficiently compete with the larger players in the market at a very competitive price point – due to low TCO of IBSuite and the synergies in the customer community.
Together, IBA and IO Group have also created a comprehensive IBSuite migration offering, which is now an integrated part of the larger IBA projects, while at the same time being a key part of the end-2-end offering to the small and mid-sized insurers.
IBA has decided to acquire IO Group 100%, as we see this customer community as a key strategic offering for IBA in the future, enabled by all the advantages of our cloud-based IBSuite platform. IO Group will continue to operate as an independent brand but will now benefit from the continued support from IBA to progress the enhancement and development of the end-2-end offering to the small and mid-sized insurers in Denmark and Norway.
This acquisition will also enable IBA to leverage IO Group’s product- and process templates to further speed up and streamline the implementation process for larger insurers, thus continuing to innovate the insurance industry.

“We have always seen the partnership between IO Group and IBA as a strong foundation for innovation and growth. With this acquisition, we are now formalizing and expanding this relationship to offer even more value to both existing and new customers; and bringing this strong customer community and associated end-2-end offerings to Norway as well”, says Morten Bruun Steiner, CEO of IBA.

As part of this transition, IBA will continue to expand the Danish customer community and provide full-service solutions to smaller mutual companies in Denmark through the IO Group brand. Both IBA and IO Group are dedicated to ensuring that customers do not experience any disruption in service and maintain the seamless continuation of support and innovation.
With the acquisition now complete, IBA and IO Group will continue to focus on delivering state-of-the-art solutions to the insurance industry, from core system migrations to enhanced product offerings, optimized customer journeys and all this with a low TCO for the customers.

About IBA
IBA develops and operates IBSuite, a leading cloud-based insurance platform used by insurance companies across Northern Europe and beyond. IBSuite is a comprehensive, end-to-end, secure, and compliant solution that helps insurers streamline their operations, reduce costs, and improve customer satisfaction.

About IO
IO Group is a trusted partner to smaller and mid-sized insurers, offering innovative solutions for insurance core system implementations, migrations, and process optimizations. With over 20 years of experience, IO Group’s expertise helps insurers enhance their operations through efficient and effective solutions tailored to their needs.