(Peggy’s Cove Lighthouse near Halifax, Nova Scotia, home of Analyze Re. Photo credit: Aconcagua.)
Verisk Analytics, Inc. (Jersey City, N.J.) has acquired Analyze Re, a Halifax, Nova Scotia-based software analytics provider for the reinsurance and insurance industries. Analyze Re will become part of AIR Worldwide, a Verisk Analytics business, and will enable AIR to provide its clients with additional real-time pricing, exposure management, and enterprise portfolio roll-up capabilities.
Verisk Analytics characterizes the acquisition of Analyze Re as extending AIR’s analytical solutions beyond catastrophe modeling to advance real-time decision making. Analyze Re provides predictive analytics for strategic planning, and its technology also helps organizations make faster and more accurate pricing and portfolio decisions, according to a company statement. The company says that its Analyze Re platform is built to help reinsurers to improve complex reinsurance portfolios and insurers design reinsurance coverage to optimize coverage.
“Clients are increasingly looking to track and reduce portfolio risk in real-time,” comments Bill Churney, president of AIR Worldwide. “Analyze Re’s advanced analytics will complement our existing software solutions, enabling companies to manage their enterprise view of risk and perform multi-modeling and portfolio optimization, all within a single environment.”
“We’re excited to join the Verisk Analytics family of businesses,” comments Adrian Bentley, CEO, Analyze Re.“Our team has been creating technology solutions for the insurance, reinsurance, and capital markets industries for more than a decade, turning huge volumes of data into meaningful insights in seconds. We look forward to continuing to offer these capabilities as part of AIR’s already robust product offerings.”
“Analyze Re and its high-performance technology will be a valuable addition to both AIR Worldwide and Verisk Analytics, and the complementary capabilities will enable a more competitive and complete service for our clients,” says Scott Stephenson, chairman, president, and CEO, Verisk Analytics.