(Theatre Royal in Newcastle, home of ENI. Photo credit: Jimmy McIntyre.)
Verisk Analytics (Jersey City, N.J.) has announced that it has acquired Emergent Network Intelligence (ENI), which the newly parent company describes a leading innovator in insurance claims efficiency and fraud detection solutions based in Newcastle upon Tyne, United Kingdom. The acquisition will give Verisk’s U.K. clients access to technologically advanced tools that allow them to improve motor claims workflow and reduce their costs and exposure to fraud, a Verisk statement says.
Founded in 2012, ENI has sought to provide U.K. 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 analyzes both structured and unstructured data, Verisk reports.
‘Valuable Additions’ to Verisk’s Existing Claims Offerings
“ENI has demonstrated a commitment to helping insurers meet the challenges of making substantive reductions in claims cycle time and detecting fraud,” Mark Anquillare, executive VP and chief operating officer, Verisk Analytics. “Their innovative solutions are valuable additions to our existing claims offerings. These include an advanced vehicle inspection system that triages total losses and can predict repairs and an analytic solution that can identify potential fraud by evaluating data from multiple sources.”
“We’re excited to join the Verisk Analytics family of businesses,” comments Christopher Campbell, Director, ENI. “We look forward to adding our offerings to complement Verisk’s comprehensive suite of solutions.”