Jersey City-based Verisk, a data analytics provider, announced Thursday it has acquired Validus-IVC, a provider of claim management solutions.
With Validus-IVC having offices in Norwich and Bath, United Kingdom, Verisk has positioned itself to support the U.K. insurance market, it said.
The integration of Validus-IVC’s verify platform with Verisk’s global claims analytics services will provide Verisk’s customers enhanced technology tools to help improve and automate claims settlements.
“We’re pleased to offer our U.K. 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, CEO of Validus-IVC. “We look forward to adding our offerings to Verisk’s comprehensive suite of data-driven claims solutions.”
Financial terms were not disclosed.
