Verisk Analytics, a provider of property/casualty (P&C) insurance risk information, has acquired UK-based insurtech Business Insight.
Warwick-based Business Insight is a technology company focused on developing predictive analytical models for insurers in the UK and Ireland. The company provides risk models to support underwriting, risk selection, and rating for the commercial property, homeowners, and private and commercial motor insurance markets. Its analytic solutions help insurers benchmark market pricing, gain a deeper insight into risk, and identify geographies to support profitable growth.
Anil Vasagiri, Senior Vice President and General Manager for global property at Verisk, said: “For more than 40 years, Verisk has provided property/casualty insurers in the United States with robust data and analytics to manage risk. Business Insight’s focus on technology-based solutions for insurers, coupled with its highly sophisticated analytics, will complement Verisk’s industry-leading solutions; and its talented group of data and insurance professionals will strengthen our deep and expanding international team.”
Mark Harrison, Managing Director of Business Insight, commented: “Verisk’s vast data resources and analytical solutions for insurers present a tremendous opportunity for us. We look forward to working with our new colleagues to create more value for our existing clients as well as developing new analytics solutions for insurers around the world.”