Verisk Acquires Validus-IVC
June 21 2018 - 6:45AM
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."
About Validus-IVC
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.
About Verisk
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.
Contact:
Investor Relations
Lee Shavel
Chief Financial Officer
Verisk
201-469-2073
IR@verisk.com
Media
Rich Tauberman
MWWPR (for Verisk)
202-600-4546
rtauberman@mww.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Verisk Analytics Inc. via Globenewswire
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