Verisk Analytics, the global data analytics firm, has acquired North Carolina-based Data Driven Safety to expand its automobile insurance underwriting data business, Verisk announced.
Data Driven Safety, founded in 2009 and headquartered in Huntersville, North Carolina, has specialized in aggregating data on drivers from law enforcement records, state motor-vehicle departments and court records, on a daily basis. The synthesized information helps insurers reduce costs and manage risks, Verisk said in a news release.
“Adding billions of driver risk records improves the granularity of our innovative risk-indicator solutions and will help customers advance their digital transformation strategies,” said Doug Caccese, president of ISO personal lines at Verisk. “Verisk will be able to provide insurers with a more complete and cost-effective view of auto risk while enabling them to tailor the purchase experience and reward customers that have a history of safe driving practices.”
A purchase price was not disclosed.
Verisk has pledged to safeguard the privacy and security of all driver data and personal information that is collected.
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