Verisk agrees to buy consumer behavioral data company

Jersey City-based data analytics provider Verisk has agreed to buy a provider of consumer behavioral data and intelligence, it announced this week.

Verisk said the deal for Pennsylvania-based Jornaya will add its proprietary view of consumer buying habits to its set of marketing solutions for the insurance and financial services markets.

“The rapid growth of competition in insurance and financial services has made it more critical than ever for businesses to help consumers find the products they need with speed and ease,” Doug Caccese, president of ISO personal lines at Verisk, said in a prepared statement. “Jornaya brings unique insights to consumer buying journeys and the ability to meet the evolving needs of CMOs and marketing teams.

“Combined with our extensive data assets and deep domain expertise in predictive analytics and decision-support solutions, this acquisition will enhance our ability to develop innovations to help our clients refine their marketing outreach, boost customer acquisition and retention, and increase profitable growth.”

Financial terms and the closing date for the deal were not disclosed. The transaction is subject to customary approvals and conditions.