Verisk has acquired McKenzie Intelligence Services, a provider of geospatial intelligence and real-time analysis of catastrophes, conflicts and other major events.
Financial terms were not disclosed. Verisk does not expect the transaction to have a material effect on its financial results.
McKenzie Intelligence Services gathers and analyzes satellite imagery, location information and other data to assess damage following natural disasters, political violence and large insurance loss events.
Its technology helps insurers, reinsurers, brokers and loss adjusters estimate portfolio exposure, identify property-level damage, prioritize claims and make operational decisions while an event is still unfolding.
The acquisition also expands Verisk’s capabilities involving strikes, riots, civil commotion and political violence.
McKenzie Intelligence Services will become part of Verisk’s Catastrophe and Risk Solutions business.
Verisk plans to combine the company’s real-time geospatial intelligence with its catastrophe models, loss indexes, claims products and risk analytics.
The broader platform is intended to help insurance organizations move from pre-event alerts through damage assessment, claims triage and portfolio-level loss estimation within a connected workflow.
The transaction follows the introduction of Verisk Synergy Studio, a cloud platform that combines catastrophe modeling, exposure management and risk analytics.
KEY QUOTES:
“By bringing MIS’s real-time geospatial intelligence together with Verisk’s catastrophe models, risk analytics and claims solutions, we can give clients a more complete view of unfolding events so they can assess impacts, prioritize response and support policyholders more effectively.”
Rob Newbold, President of Verisk Catastrophe and Risk Solutions
“Together with Verisk’s risk modelling and claims solutions, we can help insurers better serve policyholders during their most challenging moments.”
Forbes McKenzie, Founder of McKenzie Intelligence Services
