(Aviva Stadium on the site of Landsdowne Road in Dublin, home of Risk Intelligence Ireland. Credit: Papachinzo.)
Verisk Analytics, Inc. (Jersey City, N.J.) has acquired Risk Intelligence Ireland (Dublin), a provider of fraud detection, compliance, risk control, and process automation services to the Irish insurance industry.
“Risk Intelligence Ireland has developed valuable tools to help insurers control costs and improve the pricing of risk in a country where insurers are challenged by underwriting losses and a surge in claims costs,” comments Scott Stephenson, chairman, president, and CEO, Verisk Analytics. “Their talent and experience will build on our core strengths and enhance the ability of our Verisk Insurance Solutions business to serve the international insurance market.”
Following completion of the transaction, Risk Intelligence Ireland will become part of Verisk Insurance Solutions and will adopt the name Verisk Insurance Solutions – Ireland. Ciaran McGaley, current CEO and managing director of Risk Intelligence Ireland will be appointed managing director of Verisk Insurance Solutions – Ireland.
Vast Data and Experience
“We’re very excited to join Verisk Insurance Solutions, a business that has been serving the insurance industry for more than 40 years,” comments McGaley. “Verisk’s vast data and experience, combined with our leading solutions in Ireland, will improve all of the services that we offer our customers.”