Insurity has acquired Maprisk, which provides geospatial data and analytics software to insurers, for an undisclosed sum.
The integration of Maprisk into Insurity’s platform will enable P&C carriers and MGAs writing personal and commercial lines to integrate geospatial data and analytics across the full policy lifecycle.
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Through the acquisition of Maprisk, Insurity seeks to strengthen its position as a provider of data and analytics to the P&C insurance industry.
Maprisk offers data and analytics to P&C carriers and MGAs via an API and through its web platform.
Its geospatial and multi-peril coverage includes data on flood, wind, wildfire, property, and crime scores, along with high-resolution aerial and satellite imagery.
Insurity CEO Chris Lafond said: “Maprisk’s focus on delivering high-quality, actionable geospatial data and analytics combined with Insurity’s already robust data and analytics solutions and configurable software platform will serve to improve intelligence surrounding hazard and catastrophe risk for P&C carriers and MGAs, empowering them to reduce losses and grow profitably.”
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By GlobalDataInsurity claimed that Maprisk’s software processes over 20 million records per month and the insurtech counts over 65 P&C carriers and MGAs among its clients.
Maprisk CEO Nick Parian said: “Maprisk’s clients will not only immediately benefit from Insurity’s $100 billion data consortium and broad suite of cloud-based geospatial and predictive analytic capabilities but gain access to Insurity’s deep bench of talent, system integrator partners, and network of leading insurance organisations.”
In June 2020, Insurity acquired Florida-based Epic-Premier Insurance Solutions to strengthen its position in the expanding MGA market.
