Jersey City-based data analytics provider Verisk will acquire consumer behavior data company Jornaya.
According to a joint announcement Wednesday, the acquisition will add Jornaya’s proprietary view of consumer buying habits to the marketing solutions Verisk offers in the insurance and financial services markets.
Customers in the property/casualty, life insurance, and lending industries utilize Jornaya’s behavioral data to drive return on investment. With this acquisition, Verisk clients will have access to this information, thus allowing them to tailor interactions based on in-market behaviors, the companies said.
“The rapid growth of competition in insurance and financial services has made it more critical than ever for businesses to help consumers find the products they need with speed and ease,” said Doug Caccese, president of ISO Personal Lines at Verisk in a prepared statement.
“Jornaya brings unique insights to consumer buying journeys and the ability to meet the evolving needs of CMOs and marketing teams. Combined with our extensive data assets and deep domain expertise in predictive analytics and decision-support solutions, this acquisition will enhance our ability to develop innovations to help our clients refine their marketing outreach, boost customer acquisition and retention, and increase profitable growth,” he said.
The transaction is subject to customary closing conditions. Financial terms were not disclosed.