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.
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