Verisk snaps up German insurtech, eyes European digital expansion
Risk modelling and analytics company Verisk has acquired a Germany-based insurtech to expand its property claims and underwriting digitalisation offerings across Europe.
The acquisition of Rocket Enterprise Solutions GmbH, an insurtech provider in the property claims sector, follows a strategic investment by Verisk in Rocket in 2022.
Rocket’s range of innovative solutions encompasses property claims and underwriting tools to enhance claims inspection, documentation, and calculation, as well as digitisation of risk inspection and assessment process. The solutions are designed to increased operational efficiency and improved underwriting decisions.
Following the deal, Rocket will join Verisk’s European claims solutions group and will be led by Michael Rodenberg, Verisk’s director of property claims solutions in Germany. The acquisition expands the company’s footprint in Germany, which includes Actineo, a specialist in digitalisation and medical assessment of bodily injury claims, and Krug, a motor claims solutions provider.
The transaction is subject to customary closing conditions.
Samer Abou-Jaoudé, Verisk Claims Solutions managing director in Continental Europe, said: “Throughout our work together, we’ve seen enormous potential in Rocket’s ability to support clients’ digital transformation journeys. Rocket’s offerings and the team’s expertise are perfectly suited to enhance the digitalisation the industry needs to evolve.”
Hanno Kahmann, Rocket CEO, added: “Our work with the Verisk team has allowed us to further develop Rocket’s core technology platform in preparation for international expansion. Joining Verisk was a natural next step to support property claims and underwriting workflows for the global insurance marketplace.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
