US: Insurity, a leading provider of cloud solutions and data analytics for the world’s largest insurers, brokers, and MGAs, today 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.
SpatialKey is a leading 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,” said Chris Lafond, CEO of Insurity. “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.”
“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,” said Bret Stone, president of SpatialKey. “We look forward to the extended value that we can now bring to both our clients and the broader insurance market.”
The acquisition was completed on December 30, 2019. The terms of the acquisition were undisclosed.