Australian actuarial and analytics firm Finity Consulting has acquired Deep Logic, a Sydney-based machine learning and artificial intelligence analytics firm, to add depth and diversity to the products and services it delivers to clients in its existing core markets of insurance, finance, and healthcare.
“This is an exciting acquisition for Finity that brings an impressive array of the highest level skills available in data science, analytics, and software product development to our business,” said Scott Collings, Finity managing director. “Deep Logic’s team strengthens our ability to further add value to our clients’ businesses and we are all excited at the prospect of working alongside such uniquely talented people.”
Products previously built by the Deep Logic team (under the Neuronworks banner), including Talon (a machine learning platform, since purchased by Guidewire) and Claims Outcome Advisor (a predictive tool for bodily injury claims estimation, now owned by Verisk), are used by most top 20 insurers in the US, the UK, and Europe.
“This acquisition will unlock synergies between our two businesses and provide enormous opportunity for us to help build the artificial intelligence capabilities of Finity’s clients,” said Paul Beinat, principal at Deep Logic.
The deal will see Deep Logic’s team join Finity’s Sydney office in mid-July.
