Verisk acquires Verify developer, Validus-IVC

Data analytics provider, Verisk has today announced the acquisition of Validus-IVC, the claims management solutions provider and developer of the subrogation portal in the UK, Verify.

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. Verisk says this will help improve and automate the claims settlement process.

Verisk now believes it is uniquely positioned to support the UK insurance market at every stage in the life of a claim.

Mark Anquillare, chief operating officer of Verisk said: “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.

“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 of Validus-IVC said: “We’re excited to join Verisk because this will provide us additional opportunities to accelerate our momentum in the UK claims market.

“We look forward to adding our offerings to Verisk’s comprehensive suite of data-driven claims solutions.”