Verisk Analytics Inc., a data analytics provider based in Jersey City, announced Monday it has acquired MarketStance, a provider of market intelligence data and analytics.As part of the deal, MarketStance will become part of ISO Solutions, a Verisk business and source of information about property and casualty insurance risk.
“Our property/casualty customers are always looking for unique insights to help them profitably grow their business,” Beth Fitzgerald, president of ISO Solutions, said in a prepared statement. “MarketStance has built a proprietary analytics model to provide actionable insights around these core needs that will enhance our ISO offerings.”
“We’re excited to join ISO, a leader in innovative data solutions,” Dr. Frederick Yohn, founder and CEO of MarketStance, said in a prepared statement. “Becoming part of a larger company will expand our breadth of offerings, help strengthen our capabilities, allow us to reach new customers, and provide additional value to our customers.”
Yohn will continue to lead the business after the acquisition.
“MarketStance and its unique data and analysis of property and casualty premium potential will be a valuable addition to both ISO and Verisk Analytics,” Scott Stephenson, chairman, CEO and president of Verisk, said in a prepared statement.
Financial terms were not disclosed.