JERSEY CITY, N.J., Feb 16, 2017 - (ACN Newswire) - Verisk Analytics, Inc. (Nasdaq:VRSK), a leading data analytics provider, today announced the acquisition of Healix Risk Rating, a leader in automated medical risk assessment for the travel insurance industry. Healix Risk Rating, a subsidiary of Healix International Holdings Limited based in Surrey, United Kingdom, will become part of ISO, a Verisk Analytics business and a leading source of information about property/casualty insurance risk for more than 45 years.
The acquisition will further expand Verisk's risk assessment offerings for the global insurance industry, providing solutions that are embedded with customer workflows and can help underwrite medical coverage for travelers with greater speed, accuracy, and efficiency.
"Travel insurance is part of the global property/casualty insurance market and a line of business where underwriters often need to quickly evaluate and price risks that can vary widely depending on those traveling and where they're visiting," said Beth Fitzgerald, president of ISO Solutions. "The powerful tools developed by Healix Risk Rating allow insurers to identify and assess these risks at point of sale and allow us to better serve both the travel insurance market and property/casualty insurers around the world."
"We're proud to join Verisk, whose access to a global network, vast industry knowledge, and experience with analytics will help us enhance our products and provide additional value to our clients," said Paul Beven, managing director, Global, and founder of Healix Risk Rating.
"Healix Risk Rating and its unique underwriting tools will be a valuable addition to Verisk Analytics as we develop new ways to innovate with our customers around the world," said Mark Anquillare, executive vice president and chief operating officer of Verisk Analytics.
About Healix Risk Rating
Healix Risk Rating is located in Surrey, United Kingdom. It was founded in 2000 as a wholly owned subsidiary of Healix International Holdings Limited. Healix Risk Rating has an unrivaled reputation as a market-leading provider of automated medical risk assessment in the travel insurance market. For more information, please visit http://www.healix.com/services/medical-underwriting-tools/ or contact us at [email protected].
Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a Verisk Analytics (Nasdaq:VRSK) business. For more information, please visit www.verisk.com/iso.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, natural resources, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk Analytics 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 Analytics helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk Analytics operates in 27 countries and is a member of Standard & Poor's S&P 500(R) Index. In 2016, Forbes magazine named Verisk Analytics to its World's Most Innovative Companies list and to its America's Best Large Employers list. Verisk is one of only 14 companies to appear on both lists. For more information, please visit www.verisk.com.
Director, Investor Relations and Strategic Finance
Verisk Analytics, Inc.
MWW Group (for Verisk Analytics)
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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
Feb 16, 2017 20:50 HKT/SGT
Topic: Merger & Acquisition
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