Verisk, a forerunner in data analytics and technology, has joined forces with Morning Data, a leading supplier of cutting-edge software to brokers and managing general agents (MGAs) worldwide, with a strong presence in London.
The acquisition’s goal is to enhance Verisk’s existing offerings and extend its capacity for straight-through processing and distribution, targeting SME brokers, coverholders, MGAs, captives, and (re)insurers in the underserved sectors. The financial aspects of this acquisition remain undisclosed.
The companies involved bring unique strengths to the table. Verisk is a leading strategic data analytics and technology partner to the global insurance industry. It utilises its advanced data analytics, software, scientific research, and deep industry knowledge to strengthen operational efficiency, improve underwriting and claims outcomes, and enable informed decisions about global risks for its clients. With teams operating in over 20 countries, Verisk’s footprint spans the globe.
Established in 1985, Morning Data is a multi-award-winning supplier of top-tier software and service solutions for the global insurance industry. Its diverse clientele includes brokers, MGAs, coverholders, insurers, reinsurers, and captives. It boasts an extensive history in the insurance industry, with involvement dating back to the 1970s.
As part of the agreement, Morning Data will be integrated into Verisk’s Specialty Business Solutions. This suite of management solutions is a robust and modern offering that enables insurance professionals to efficiently manage critical processes and calculate risk accumulation and exposure impact across complex specialty lines. Included in the suite are the web-based analytical engine Sequel Impact, the workflow management solution Sequel Claims, the award-winning pricing, underwriting, and distribution platform Sequel Rulebook®, and the digital trading platform Sequel Whitespace.
Speaking on the acquisition, Morning Data founder and CEO Kirstin Duffield said, “For over three decades, Morning Data has been at the forefront of market optimisation with innovative software solutions. Joining the Verisk team, we look forward to driving the London and international insurance market into the next stage of its digital transformation journey.”
Tim Rayner, president of Verisk Specialty Business Solutions, also shared his enthusiasm about the acquisition, stating, “Morning Data is a trusted part of clients’ daily workflow, helping insurers, broker and MGA customers to manage their risk placement processes. Together, we’ll be able to assist more coverholders, brokers, and carriers to reap the benefits of enhanced automation and streamlined workflows.”
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