Verisk, a data analytics provider for the insurance and energy industry, has signed a deal to buy Swedish insurtech Mavera for an undisclosed sum.
Founded in 2008, Mavera operates a data-driven personal injury claims management platform.
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The platform uses data and medical knowledge from its network of advisers throughout the Nordic region to simplify the assessment of claims and decision-making.
For Verisk, the transaction is aimed at supporting its expansion in Continental Europe and its growth as a technology and analytics partner for the insurance industry.
The technology, capabilities, and accessibility to medical knowledge offered by Mavera are a highly complementary fit with the Verisk ecosystem of personal injury and claims solutions, the US-based firm noted.
Last year, Verisk made a move to buy ACTINEO, which offers digitalisation and medical assessment of personal injury claims in Germany and Austria.
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By GlobalDataVerisk Claims Solutions managing director for Continental Europe Olav Skowronnek said: “The Nordics is a digitally mature market that is ripe for expansion and further transformation, and the Verisk ecosystem is primed to deliver this.
“At Verisk, we’re always keen to support a ‘right touch’ claims process where technology and data are used to support the expertise of claims professionals – and Mavera fits directly into that mindset. We’re happy to welcome them to the Verisk team.”
Mavera CEO Roine Gabrielsson said: “Mavera has found a perfect match in Verisk as a digitally-driven company working to add value to the claims process for insurance organisations and policyholders alike.
“I look forward to working with my new Verisk colleagues to blend our digital expertise, market knowledge and desire to innovate as we collaborate to push the boundaries of insurance digital transformation in Europe.”
Recently, Verisk signed a $3.1bn deal to sell its energy unit in a bid to focus on insurance operations.
