Verisk Analytics, Inc. has announced the acquisition of Analyze Re, a specialist provider of software analytics tools and services for the insurance, reinsurance and insurance-linked securities (ILS) industries.
Analyze Re will be folded into risk modeller AIR Worldwide (AIR), providing the firm with capabilities to provide clients with “additional real-time pricing, exposure management, and enterprise portfolio roll-up capabilities.”
“Clients are increasingly looking to track and reduce portfolio risk in real-time,” commented Bill Churney, president of AIR Worldwide. “Analyze Re’s advanced analytics will complement our existing software solutions, enabling companies to manage their enterprise view of risk and perform multi-modeling and portfolio optimization, all within a single environment.”
“We’re excited to join the Verisk Analytics family of businesses,” added Adrian Bentley, chief executive officer of Analyze Re. “Our team has been creating technology solutions for the insurance, reinsurance, and capital markets industries for more than a decade, turning huge volumes of data into meaningful insights in seconds. We look forward to continuing to offer these capabilities as part of AIR’s already robust product offerings.”
“Analyze Re and its high-performance technology will be a valuable addition to both AIR Worldwide and Verisk Analytics, and the complementary capabilities will enable a more competitive and complete service for our clients,” added Scott Stephenson, chairman, president, and chief executive officer of Verisk Analytics.
Analyze Re has been working with reinsurance and ILS funds for a number of years, helping them to better understand their data, analyse portfolio concentrations and exposure, while gaining insights on pricing.
The firm has worked with a number of ILS specialists in recent years. Adding Analyze Re’s capabilities and toolset to AIR’s broader risk model offering will be complementary and provide the firm with something they do not currently have, broadening its client proposal.
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