Verisk Analytics has expanded its claims products in the United Kingdom with the acquisition of Emergent Network Intelligence (ENI), which provides insurers in the UK with technological innovations to process claims more efficiently and to detect fraud.
Financial terms of the acquisition were not disclosed.
“ENI has demonstrated a commitment to helping insurers meet the challenges of making substantive reductions in claims cycle time and detecting fraud,” said Mark Anquillare, executive vice presideclaimsnt and chief operating officer of Verisk Analytics. “Their innovative solutions are valuable additions to our existing claims offerings. These include an advanced vehicle inspection system that triages total losses and can predict repairs and an analytic solution that can identify potential fraud by evaluating data from multiple sources.”
The ENI deal is the latest in a series of acquisitions Verisk has made in the last few months.
- Earlier this month, Verisk snatched up UK-based Healix Risk Rating, a company focused on automated medical risk assessment for travel insurance ratings, with plans to fold it into ISO.
- In January, Verisk acquired Arium, a British company focused on liability risk modeling and decision support, with plans to make it part of AIR Worldwide.
- In November, Verisk purchased MarketStance, a provider of market intelligence data and analytics for property/casualty insurance companies, brokers and agents.
- Also in November, Verisk bought The GeoInformation Group, a UK-based firm that provides large-scale mapping services and geospatial data and analytics products to a wide range of companies and more than 300 public-sector organizations.
- In October, Verisk acquired Halifax, Nova Scotia-based Analyze Re, a software analytics provider that it folded into AIR Worldwide, providing clients with additional real-time pricing, exposure management and enterprise portfolio roll-up capabilities.
Source: Verisk Analytics