UK-based insurtech Automated Insurance Solutions (AIS) has been acquired by US-headquartered data analytics provider Verisk for an undisclosed sum.
“This acquisition will allow Verisk to add powerful new automation capabilities to its claims ecosystem, consolidate its place as a leader in one of the largest and most highly developed motor insurance markets in the world, and then take this to new geographies as a leading digital innovator,” said Verisk Claims Europe managing director Joe Pendle.
“The extensive industry and technology expertise of AIS will be instrumental to Verisk’s claims operations and the alignment of both companies’ visions is a positive sign for sustained future growth at home and abroad.”
AIS is the name behind the BAIL motor claims liability assessment solution, which provides automated assessment and analysis of motor accident liability. It features digital self-service capabilities and spans information such as Google Maps integration for location and weather at time of incident as well as case law and imagery.
Commenting on the swoop, AIS chief executive Ben Taylor noted: “At AIS we have seen significant growth in the UK since our start in 2016, but joining a true global leader in Verisk will allow AIS to reach new heights in motor accident claims by expanding our capabilities to new markets in Europe.
“The business missions of both companies are perfectly matched, and we look forward to combining our deep-domain expertise, unique datasets, and technological know-how to tackle insurer pain-points and collaborate on future innovations.”
Verisk, which is celebrating its golden anniversary, has more than 100 offices in over 30 countries.
