Verisk, a data analytics provider for the insurance sector, has agreed to acquire AccuLynx for $2.35bn in cash. 

AccuLynx is known for its software-as-a-service (SaaS) platform that provides a complete business management workflow for contractors in the residential roofing market. 

The cloud-based platform developed by AccuLynx plays a crucial role in the operations of roofing contractors, covering essential functions such as job management, labour sourcing, lead generation, materials ordering, payment processing, sales and customer relationship management, and virtual measurements.

A large portion of AccuLynx’s customers are involved in repairs and restoration driven by insurance claims. 

This acquisition is expected to strengthen Verisk’s network capabilities within the insurance claims and restoration ecosystem. 

Verisk anticipates that this acquisition will positively impact its revenue growth and adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) margin, with an expected increase in adjusted earnings per share by the end of 2026. 

AccuLynx CEO Mike Stein said: “Many of our clients already know and trust Verisk to help them manage jobs efficiently and accurately. Joining Verisk enables us to drive operational efficiency for the contractor and insurance industries and expand the value we provide.  

“We are thrilled to join the Verisk team and look forward to advancing our shared goals of helping our clients grow their businesses by streamlining their workflows so they can better serve their customers.” 

Verisk’s Property Estimating Solutions, which serves the global insurance industry with property insurance, remodelling and restoration solutions, is set to benefit from the acquisition.  

The combined networks are set to reduce manual tasks and enhance the flow of information between insurance carriers and contractors, with policyholders expected to receive enhanced repair services. 

Verisk president and CEO Lee Shavel stated: “AccuLynx is a natural fit and extension of the solutions we provide insurance carriers, adjustors and contractors through our Property Estimating Solutions business.  

“Together we have an incredible opportunity to enhance the network effect of these businesses and create significant value for all parties in the insurance claims and restoration ecosystem, from insurers to contractors and policyholders.” 

Last month, Verisk integrated One Inc’s One PremiumPay into its Flexible Architecture, Simplified Technology platform, aiming to streamline life insurance operations.