Verisk Analytics Acquires German InsurTech, Boosts Presence in Europe

Verisk Analytics Inc VRSK has acquired a Germany-based motor claims solutions provider, Krug Sachverständigen GmbH (SV Krug), for undisclosed terms.
SV Krug has a strong position in the German insurance market. Its digitalized solutions help insurers and car manufacturers improve customer service, leading to cost reductions.
The acquisition boosts Verisk's European motor solutions and complements a previously acquired business, Actineo, that offers similar solutions in Germany and Austria.
"Verisk will add SV Krug's established claims management solutions to Verisk's leading data analytics and insurance ecosystem to provide an end-to-end claims solution to the European insurance market. SV Krug's synergies with Actineo show great promise to support our clients by optimizing operational efficiency and improving the customer experience," stated Olav Skowronnek, managing director for Continental Europe at Verisk Claims Solutions.
Price Action: VRSK shares closed lower by 1.58% at $192.71 on Tuesday.