Verisk Analytics, a provider of property/casualty (P&C) insurance risk information, has acquired UK-based Healix Risk Rating, a subsidiary of Healix International Holdings.
Following the deal, Healix Risk will become a part of its ISO Solutions business that serves re/insurers, brokers, insurance regulators and risk managers in the P&C marketplace.
Verisk said that the acquisition will further expand its risk assessment offerings for the global insurance industry, providing solutions that are embedded with customer workflows and can help underwrite medical coverage for travellers with greater speed, accuracy, and efficiency.
Beth Fitzgerald, president of ISO Solutions, said: "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.
"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."
Mark Anquillare, executive vice president and chief operating officer of Verisk Analytics, added: "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."
"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, global managing director and founder of Healix Risk Rating.
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Verisk Analytics, Acquisition, Healix Risk Rating, Property/casualty, UK,