Jersey City-based Verisk Analytics Inc., a data analytics provider, announced it has acquired Healix Risk Rating, an automated medical risk assessment for the travel insurance industry.Healix Risk Rating, a subsidiary of United Kingdom-based Healix International Holdings Ltd., will become part of ISO, a Verisk Analytics business and information source about property/casualty insurance risk.
“Travel insurance is part of the global property/casualty insurance market and a line of business where underwriters often need to quickly evaluate and price risks that can vary widely depending on those traveling and where they’re visiting,” Beth Fitzgerald, president of ISO Solutions, said in statement. “The powerful tools developed by Healix Risk Rating allow insurers to identify and assess these risks at point of sale and allow us to better serve both the travel insurance market and property/casualty insurers around the world.”
Financial terms of the acquisition were not disclosed.
“We’re proud to join Verisk, whose access to a global network, vast industry knowledge and experience with analytics will help us enhance our products and provide additional value to our clients,” Paul Beven, managing director, global, and founder of Healix Risk Rating, said in a statement.
“Healix Risk Rating and its unique underwriting tools will be a valuable addition to Verisk Analytics as we develop new ways to innovate with our customers around the world,” Mark Anquillare, executive vice president and chief operating officer of Verisk Analytics, said in a statement.