(Image source: SpatialKey homepage.)
Insurity (Hartford), a provider of cloud solutions and data analytics to the property/casualty industry, today announced that it has completed the acquisition of SpatialKey, Inc. (Austin Texas). Along with Insurity’s 2017 acquisition of Valen Analytics, the SpatialKey transaction broadens Insurity’s data and analytics offerings. The acquisition was completed on December 30, 2019. The terms of the acquisition were undisclosed.
SpatialKey is a provider of geospatial analytics, data enrichment, and risk intelligence solutions for the property/casualty insurance industry, with over 200 re/insurer, broker, and MGA customers. Insurity will offer SpatialKey to property/casualty professionals to help them make better decisions in their underwriting, exposure management, and claims operations. SpatialKey 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, according to an Insurity statement.
“SpatialKey’s solutions are an exceptional complement to the Insurity portfolio,” comments Chris Lafond, CEO, 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.”
Mutual Strategic Alignment in Data & Analytics
“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,” comments 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.”