Verisk snaps up London firm to expand solutions for brokers and MGAs
Global data analytics and technology firm Verisk has acquired insurance software provider Morning Data in a move to support digital transformation across international brokers and managing general agents (MGAs).
The acquisition will expand Verisk’s Specialty Business Solutions’ suite of end-to-end insurance software in the UK and around the world. It will enable the firm to enhance its offering for straight-through processing and distribution to the underserved and growing market of SME brokers, coverholders, MGAs, captives and re/insurers.
Morning Data provides end-to-end processing, with full audit trails and ease of reporting. It is used by London Market practitioners to process a variety of styles of business and capture granular risk-level data, using global standards and structured data.
Following the deal, Morning Data will become part of Verisk’s Specialty Business Solution.
“As a core system and integral part of clients’ daily workflow, Morning Data is trusted by insurers, broker and MGA customers to manage their risk placement processes,” said Tim Rayner, president of Verisk Specialty Business Solutions. “Together we’ll be able to help more coverholders, brokers and carriers reap the benefits of enhanced automation and streamlined workflows.”
Morning Data founder and CEO Kirstin Duffield, said: “For more than 30 years, Morning Data has helped the market optimise operations with innovative software solutions. By joining the Verisk team, we’re looking forward to supporting the London and international insurance market in the next step of its digital transformation journey.”
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