Data analytics platform for insurance brokers Insurity has acquired SpatialKey, a geospatial analytics and data enrichment hub, for an undisclosed amount.
The acquisition comes hot off the heels of Insurity’s acquisition of Valen Analytics, a data platform which enables insurers to generate valuable insights for better risk selection and pricing.
With both these companies under its belt, Insurity hopes it will deepen its own offerings and better manage risk and respond to catastrophes.
Insurity gives insurers, brokers and MGAs cloud-based solutions to improve their claims and policy generation.
By working together, the companies will enable P&C professionals to improve underwriting, exposure management and claims operations. They will also be able to collate data from various sources and compile this into actionable insights.
Insurity CEO Chris Lafond said, “SpatialKey’s solutions are an exceptional complement to the Insurity portfolio.
“Data and analytics is a key focal point in our strategy of delivering differentiated and high-value products to our clients. The acquisition of SpatialKey will enable us to extend our overall market leadership as well as strengthen and expand our already-robust suite of industry-leading data solutions.”
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