Verisk Analytics has snatched up Healix Risk Rating, a company focused on automated medical risk assessment for the travel insurance ratings.
Financial terms were not disclosed, although the deal is designed to expand Verisk’s risk assessment offerings for the global insurance industry.
Verisk said it plans to fold its UK-based acquisition into ISO, a Verisk Analytics business that collects and compiles data on property/casualty insurance risk. Healix Risk Rating provides data designed to help underwrite medical coverage for travelers in a way that is more efficient, quicker and accurate.
Healix launched in 2000 as a wholly owned subsidiary of Healix International Holdings Ltd.
Beth Fitzgerald, president of ISO Solutions, said in prepared remarks that Healix Risk Rating tools developed to help insurers spot and assess medical coverage for travelers at the point of sale will “allow us to better serve both the travel insurance market and property/casualty insurers around the world.”
Capgemini has made an acquisition designed to advance its insurance industry-related managed services in the U.S.
Specifically, Capgemini is buying TCube Solultions, a firm focused on helping insurers optimize their work and operations through advanced digital and data capabilities, plus integrated functionality that can be delivered via the cloud. Neither side is disclosing financial terms.
TCube Solutions’ offerings include integrated policy management, billing, claims operations, reinsurance management systems and data strategy capabilities. It is also known as the largest independent service provider specializing in Duck Creek Technologies, which provides property/casualty insurance software and services. Capgemini focuses on consulting, technology and outsourcing services designed to help companies innovate and remain competitive.
TCube Solutions launched in 2007 in Columbia, S.C., and employs 300 people with a focus on clients in North America and the UK. Capgemini headquartered in Paris, France, debuted 50 years ago and employs more than 190,000 people in over 40 countries.
Sources: Capgemini, Verisk Analytics Inc.