Insurity acquires geospatial analytics company SpatialKey
Cloud solutions and data analytics provider Insurity announced that it has completed the acquisition of SpatialKey, Inc. Along with Insurity’s 2017 acquisition of Valen Analytics, the SpatialKey transaction will broaden Insurity’s data and analytics offerings.
Established in 2011, SpatialKey is a provider of geospatial analytics, data enrichment, and risk intelligence solutions for the P&C insurance industry, and is trusted by over 200 re/insurers, brokers, and MGAs. Together, SpatialKey and Insurity will (i) help P&C professionals make better decisions in their underwriting, exposure management, and claims operations; and (ii) bring together insured data, numerous expert data sources, and insurance-specific analytics and visualization to provide immediate, actionable insights that drive healthier portfolios, operations, and profits.
“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.” – Chris Lafond, CEO of Insurity.
“With Insurity’s leadership in P&C insurance and with our mutual strategic alignment in data and analytics, together we can further accelerate delivery of innovative solutions that align with the SpatialKey mission to empower insight. We look forward to the extended value that we can now bring to both our clients and the broader insurance market.” – Bret Stone, president of SpatialKey.
The acquisition was completed on December 30, 2019. The terms of the acquisition were undisclosed.