’We’re looking forward to supporting the London and international insurance market,’ says chief executive
Analytics and technology firm Verisk has acquired Morning Data in a deal that will support digital transformations of brokers and managing general agents (MGAs), according to a statement released today (30 May 2023).
Morning Data is a supplier of software and solutions for the insurance industry and provides end-to-end processing with full audit trails.
London market practitioners can use Morning Data’s software to process different styles of business and capture granular risk-level data.
Verisk said acquiring the firm would allow it to “enhance and expand” its solutions for straight-through processing and distribution to SME brokers, coverholders, MGAs, captives and (re)insurers.
Morning Data founder and chief executive Kirstin Duffield said: “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.”
’Reap the benefits’
The deal will see Morning Data join Verisk’s Specialty Business Solutions, an integrated suite of end-to-end management solutions.
This enables insurance professionals to manage process steps and calculate risk accumulation and exposure impact across specialty lines.
Tim Rayner, president of Verisk Specialty Business Solutions, said: “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.
“Together we’ll be able to help more coverholders, brokers and carriers reap the benefits of enhanced automation and streamlined workflows.”