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Verisk (Jersey City, N.J), a global data analytics and technology provider, announced that it has acquired Morning Data(Dorchester, Dorset), a supplier of software to brokers and MGAs in London and globally. Verisk says acquisition enables the company to enhance and expand its solutions for straight-through processing and distribution to the underserved and growing market of SME brokers, coverholders, MGAs, captives and (re)insurers.
Morning Data offers end-to-end processing, with full audit trails and ease of reporting. London Market practitioners can use Morning Data’s software to process a variety of styles of business and capture granular risk-level data, using global standards and structured data, according to a Verisk statement.
“For more than 30 years, Morning Data has helped the market optimize operations with innovative software solutions,” comments Kirstin Duffield, founder and CEO, Morning Data. “By joining the Verisk team, we’re looking forward to supporting the London and international insurance market in the next step of its digital transformation journey.”
Integrated Suite of End-to-End Management Solutions
Morning Data will become part of Verisk’s Specialty Business Solutions, providing what the vendor calls a modern, powerful and integrated suite of end-to-end management solutions. The suite enables insurance professionals to efficiently manage critical process steps and calculate risk accumulation and exposure impact across complex specialty lines, according to Verisk. It includes the web-based analytical engine Sequel Impact; the workflow management solution Sequel Claims; the pricing, underwriting and distribution platform Sequel Rulebook and the digital trading platform Sequel Whitespace.
“As a core system and integral part of clients’ daily workflow, Morning Data is trusted by insurers, broker and MGA customers to manage their risk placement processes,” comments Tim Rayner, president, Verisk Specialty Business Solutions. “Together we’ll be able to help more coverholders, brokers and carriers reap the benefits of enhanced automation and streamlined workflows.”