Verisk, a global provider of data analytics and technology, has entered into a definitive agreement to acquire SuranceBay, a leading provider of producer licensing, onboarding, appointment, and compliance software for the life and annuity insurance market, for $162.5m in cash.
The deal will integrate SuranceBay’s contracting automation tools, including its SureLC™ software, into Verisk’s FAST platform, used widely by life and annuity insurers, according to InsurTech Insights.
The goal is to streamline workflows, reduce operational friction, and digitise the insurance lifecycle.
SuranceBay will join Verisk’s Life Solutions business, helping to enhance the scalability and efficiency of insurance distribution systems.
Verisk co-president of underwriting solutions Saurabh Khemka said, “This acquisition underscores Verisk’s commitment to investing in the life and annuity space to drive efficiencies across the ecosystem.
The connection between carriers and distribution is more important than ever, and together with SuranceBay, we’re creating a scalable, future-ready ecosystem.”
SuranceBay CEO Anatole Tartakovsky added, “Verisk and SuranceBay share a vision for using technology to make insurance distribution faster, simpler, and more efficient. This combination will deliver the end-to-end digital experience our clients need.”
The acquisition follows recognition of Verisk’s FAST platform as a Leader in ISG’s Provider Lens™ for Life and Retirement Platform Solutions for the fourth consecutive year. Verisk plans to share more financial details in its Q2 2025 earnings call.
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