Verisk Acquires Validus-IVC
June 21 2018 - 6:46AM
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 RelationsLee ShavelChief Financial
OfficerVerisk201-469-2073IR@verisk.com
MediaRich TaubermanMWWPR (for
Verisk)202-600-4546rtauberman@mww.com
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