Assurant Boosts Automation Prospects With OptoFidelity Technology (Revised)

Core Insights - Assurant, Inc. (AIZ) has acquired the mobile device test automation technology portfolio from OptoFidelity to enhance efficiency and value for its partners [1][10] - The acquisition aligns with Assurant's strategy to invest in technologies that support growth and innovation in its Global Connected Living business [2][5] Group 1: Acquisition Details - OptoFidelity has delivered over 9,000 advanced mobile device testing systems globally since its founding in 2005, known for precision and repeatability [2] - The acquisition will allow Assurant to repurpose a greater volume of devices with enhanced precision and efficiency, meeting growing demand and maintaining high-quality standards [3][4] Group 2: Strategic Growth Initiatives - Assurant aims to strengthen global partnerships and invest in technology, including digital and AI, to drive growth [5] - The opening of the Innovation and Device Care Center in October 2024 supports mobile device lifecycle solutions and enhances automation capabilities [6] Group 3: Future Collaborations - Assurant will collaborate with FutureDial, a key customer of the acquired technology, to ensure continued support and service for clients [7][10] Group 4: Business Impact - The acquisition is expected to bolster Assurant's Connected Living business, which provides mobile device solutions and contributes to top-line growth [8] - Assurant's shares have gained 5.2% over the past year, outperforming the industry growth of 2.5% [9]