The acquisition will help insurers and lenders deliver bespoke customer experiences, while enhancing its customer acquisition and retention
Verisk, a US-based data analytics and risk assessment firm, has agreed to acquire Jornaya, a provider of consumer behavioral data and intelligence, for an undisclosed amount.
With the acquisition, Verisk will add Jornaya’s unique view of consumer buying journeys to its growing marketing solutions for the insurance and financial services markets.
The company’s clients will be provided with the insights and speed to customise interactions based on actual in-market behaviours, for engagement with customers and prospects.
Verisk ISO personal lines president Doug Caccese said: “The rapid growth of competition in insurance and financial services has made it more critical than ever for businesses to help consumers find the products they need with speed and ease.
“Jornaya brings unique insights to consumer buying journeys and the ability to meet the evolving needs of CMOs and marketing teams.
“Combined with our extensive data assets and deep domain expertise in predictive analytics and decision-support solutions, this acquisition will enhance our ability to develop innovations to help our clients refine their marketing outreach, boost customer acquisition and retention, and increase profitable growth.”
Verisk provides data analytics for insurance, energy and specialised markets
Verisk is engaged in providing advanced data analytics for customers not only in insurance, energy and specialised markets but also other financial services too.
Also, the company offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and other fields.
Its customers in the property and casualty, life insurance, and lending industries can use Jornaya’s behavioral data, lead compliance intelligence and other solutions to obtain returns on their investment.
Jornaya provides advanced behavioural data in the insurance and lending industries, which helps companies and their marketing teams improve consumer engagements.
Jornaya founder and CEO Ross Shanken said: “Verisk has shown a strong commitment to meeting the rapidly changing needs of leading marketers with data-driven solutions, highly experienced teams, and a significant innovation pipeline.
“As part of the Verisk family, we’ll be able to increase our reach, improve our solutions, and help our clients grow with greater speed and efficiency by driving better customer engagement, acquisition, and retention.”