Blog Coverage Verisk Analytics Acquires Emergent Network Intelligence
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LONDON, UK / ACCESSWIRE / March 1, 2017 / Active Wall St. blog coverage looks at the headline from Verisk Analytics, Inc. (NASDAQ: VRSK) as the Company announced on February 28, 2017, that it has acquired Emergent Network Intelligence (ENI), a leading innovator in insurance claims efficiency and fraud detection solutions based in Newcastle upon Tyne, United Kingdom. Transaction details were not shared. This was the Company's third deal in a flurry of recent acquisitions. Register with us now for your free membership and blog access at:
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Founded in 2012, ENI provides UK domestic insurers with technological innovations that enable them to process claims more efficiently and to detect fraud. ENI's core products have led to drastic reductions in claims cycle time and have enabled insurers to discover suspicious claims by accessing a fraud detection and investigation system that analyses both structured and unstructured data. Verisk stated that with the acquisition of ENI, Verisk's clients in the UK can take advantage of technologically advanced tools that allow them to improve motor claims workflow and reduce their costs and exposure to fraud.
"ENI has demonstrated a commitment to helping insurers meet the challenges of making substantive reductions in claims cycle time and detecting fraud," said Mark Anquillare, Executive Vice President, and Chief Operating Officer of Verisk Analytics.
Acquires Fintellix
On February 27, 2017, Verisk Analytics announced that it will acquire Fintellix, a Bangalore-based data solutions company specializing in the development of data management platforms and regulatory reporting solutions for financial institutions. Fintellix will become part of Verisk's Argus business.
Founded in 2006, Fintellix enables agility in risk and regulatory reporting practices in enterprise banks and lowered cost of compliance. Fintellix provides analytics, risk, and compliance solutions for the banking sector. It offers a banking data management infrastructure for data management and processing, content management and administration, and content and collaboration. The Company also offers products such as Fintellix Compliance, which provides regulatory reporting; Fintellix Risk; and Fintellix Analytics. In addition, the Company provides information management services, such as strategy consulting, architecture consulting, design and development, and managed services.
"Fintellix and its advanced data management platform, along with its regulatory reporting expertise, will be a valuable addition to both Argus and Verisk Analytics," added Scott Stephenson, Chairman, President, and Chief Executive Officer of Verisk Analytics.
The transaction is subject to the completion of customary closing conditions.
Acquires Healix
On February 16, 2017, Verisk Analytics announced the acquisition of Healix Risk Rating, a leader in automated medical risk assessment for the travel insurance industry for an undisclosed amount. Healix Risk Rating, a subsidiary of Healix International Holdings Limited, will be integrated in Verisk's ISO business, a leading source of information about property/casualty insurance risk for more than 45 years. Healix Risk Rating is located in Surrey, United Kingdom. It was founded in 2000 as a wholly owned subsidiary of Healix International Holdings Limited. The acquisition will further expand Verisk's risk assessment offerings for the global insurance industry, providing solutions that are embedded with customer workflows and can help underwrite medical coverage for travelers with greater speed, accuracy, and efficiency.
"Healix Risk Rating and its unique underwriting tools will be a valuable addition to Verisk Analytics as we develop new ways to innovate with our customers around the world," said Mark Anquillare.
Stock Performance
At the close of trading session on Tuesday, February 28, 2017, Verisk Analytics' stock price fell 1.04% to end the day at $82.92. A total volume of 863.09 thousand shares were exchanged during the session, which was above the 3-month average volume of 669.30 thousand shares. The Company's share price has gained 13.84% in the past twelve months and 2.16% on a YTD basis. The stock currently has a market cap of $13.70 billion. Furthermore, shares of the company have a PE ratio of 31.44.
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