Insurance product development and regulatory services company Martin has acquired Adaptify, which provides AI-powered product lifecycle management and pricing technology. Financial terms were not disclosed.

The acquisition combines Adaptify’s technology with Martin’s product development, actuarial, compliance and regulatory filing services. Martin serves carriers, MGAs and program administrators across property and casualty lines, specialty markets and programs in 51 jurisdictions.

“Bringing an insurance product to market still requires navigating complex regulatory requirements, pricing decisions, and ongoing product changes. The acquisition of Adaptify provides the additional technology and intelligence our customers need to move from product inception to in-market faster and with greater confidence.” – Lani Cathey, CEO of Martin.

The deal follows Martin’s September rebrand from Martin & Company. The company is backed by Polaris Growth Fund.