Acquisition positions Verisk as leading UK provider of data-driven solutions for the life of a claim
JERSEY CITY, N.J., June 21, 2018 - Verisk (Nasdaq:VRSK), a leading data analytics provider, today announced it has acquired Validus-IVC, a top provider of claims management solutions and developer of the leading subrogation portal in the UK, verify(TM). Validus-IVC has offices in Norwich and Bath, United Kingdom.
The integration of Validus-IVC's verify platform with Verisk's industry-leading global claims analytic services will allow customers to take advantage of enhanced analytic and technology tools to help improve and automate the claims settlement process. With the addition of a well-established subrogation platform to its existing claims solution set, Verisk is uniquely positioned to support the UK insurance market at every stage in the life of a claim.
"We're pleased to offer our UK customers access to our distinctive cloud-based platform that enables the exchange of claims information in real time and provides automated processing for reduced expenses and greater claims outcome consistency," said Mark Anquillare, chief operating officer of Verisk. "With the acquisition of Validus-IVC, we look forward to the growth of our combined analytical products for the benefit of the UK insurance market."
"We're excited to join Verisk because this will provide us additional opportunities to accelerate our momentum in the UK claims market," said Edwyn van Rooyen, chief executive officer of Validus-IVC. "We look forward to adding our offerings to Verisk's comprehensive suite of data-driven claims solutions."
Validus-IVC Ltd. was established in May 2007 to provide claims management and analysis services to the UK motor insurance industry. Since then, the business has evolved significantly, with a proprietary software platform, verifyTM, now providing settlements for a sizable volume of motor repair and mobility claims both in the UK and overseas. For more information about Validus-IVC, please visit www.validus-ivc.co.uk.
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor's S&P 500® Index. In 2017, Forbes magazine named Verisk to its America's Best Mid-Size Employers list and to its World's Most Innovative Companies list. Verisk is one of only seven companies to appear on both lists. For more information, please visit www.verisk.com.
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