21 June 2018Insurance

Verisk Acquires Validus-IVC

Data analytics provider Verisk has acquired claims management solution Provider Validus-IVC.

Validus-IVC has offices in Norwich and Bath, UK and was established in May 2007 to provide claims management and analysis services to the UK motor insurance industry.

The integration of Validus-IVC's verify platform with Verisk's 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, the company explained in a statement.

With the addition of a subrogation platform to its existing claims solution set, Verisk is well positioned to support the UK insurance market at every stage in the life of a claim, the firm claimed.

"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.”

Edwyn van Rooyen, chief executive officer of Validus-IVC, added: "We're excited to join Verisk because this will provide us additional opportunities to accelerate our momentum in the UK claims market.

Make sure you are GDPR compliant and  confirm your email address to keep getting our daily emails

More of today's news

Lemonade to slow down growth and tackle loss ratio

Tokio Marine Kiln A&H head quits amidst strategic overhaul

Internet of things will challenge market, Verisk Risk Forum hears

Technology is changing at ever faster pace: Verisk

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

28 February 2018   Verisk Analytics, a provider of property/casualty (P&C) insurance risk information, has acquired UK-based insurtech Business Insight.
2 May 2018   Bermuda-based Validus Holdings reported a net loss of $4.1 million for the first quarter of 2018 after a net income of $94.6 million in the same period of 2017.
3 December 2018   Verisk Analytics, a provider of property/casualty (P&C) insurance risk information, has acquired London-based Rulebook for $87 million in cash.