Insurance technology support provider Vertafore has announced its acquisition of analytics firm RiskMatch. Terms of the deal were not disclosed.
Vertafore expects to leverage its platform of native data from its network of 25,000 agencies and 1,000 carriers with RiskMatch’s business intelligence and data analytics capability to meet the emerging demand for broader capabilities directly related to analytics, insight and ease of use, according to a joint statement by the companies.
Furthermore, the companies’ clients are expected to benefit from the partnership through expanded functionalities for price and product discovery, identifying options for policyholders, and more efficient transactional capabilities.
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The combined competencies of the companies are also expected to enable the delivery of valuable data insights by maximizing Vertafore’s massive stores of operational and business data through RiskMatch’s business intelligence and data analytics capacity.
Additionally, adopters can drive efficiencies in their operations, which can then translate to the delivery of improved services and products to customers.
“This combination will be highly impactful for customers as they have been asking for broader capabilities directly related to analytics, insights and ease of use,” Kabir Syed, RiskMatch founder and chief executive said in the statement.
Under the terms of the deal, RiskMatch will operate as a separate business unit within the Vertafore organization. Syed will join the Vertafore executive team.
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