Verisk looks to broaden product offerings with three acquisitions
Verisk Analytics acqiured three companies in February, adding to the insurance software vendor’s offerings for financial services companies.
The New Jersey-based firm, which focuses on data and analytics, purchased the following companies in deals announced between Feb. 16 and Feb. 28:
· Emergent Network Intelligence: Provides U.K. domestic insurers with software to process claims more efficiently and detect fraud.
· Fintellix: Offers analytics, risk, and compliance software for the banking sector.
· Healix Risk Rating: A seller of automated medical risk assessment technology for the travel insurance market.
The buys continue a long trend of insurance technology M&A, which Verisk is no stranger to. In January, the company purchased risk modeling firm Arium after buying Analyze Re and The Geoinformation Group—a company specializing in geospatial and mapping analytics—in November.
Joining Verisk as active participants on the M&A trail is Guidewire, which announced a number of deals in 2016, including acquisitions of ISCS, FirstBest Systems and Eagle Eye Analytics.
So far, 2017 has been headlined by Sapiens’ $102 million buy of StoneRiver and Insurity’s purchase of Valen Analytics. Insurity, a cloud core systems provider, also added Systema Software to its portfolio at the end of last year.