Verisk Acquires Validus-IVC

Verisk announced it has acquired UK-based Validus-IVC. The company was established in 2007 to provide claims management and analysis services to the UK motor insurance industry. Since then, the business has evolved, with the development of verify, a software that provides settlements for a sizable volume of motor repair and mobility claims both in the UK and overseas.

The integration of Validus-IVC’s verify platform with Verisk’s global claims analytic services will allow customers to take advantage of enhanced analytic and technology tools to help improve and automate the claims settlement process. With the addition of a well-established subrogation platform to its existing claims solution set, Verisk is uniquely positioned to support the UK insurance market at every stage in the life of a claim.

“We’re pleased to offer our UK customers access to our distinctive cloud-based platform that enables the exchange of claims information in real time and provides automated processing for reduced expenses and greater claims outcome consistency. With the acquisition of Validus-IVC, we look forward to the growth of our combined analytical products for the benefit of the UK insurance market.” – COO of Verisk, Mark Anquillare.

Speaking of claims, 95% of Digit’s claims go through video self-inspection. Policyholders that need to file a car insurance claim, simply record a video of the damage to send to Digit Insurance . File under ‘time is money’.

Recall insurance-related acquisitions here.