Verisk Analytics Inc. has announced the signing of a definitive agreement to acquire SuranceBay for $162.5 million in cash. This acquisition aims to expand Verisk's offerings in the life and annuity sector by integrating SuranceBay's solutions, including its renowned agency management software, SureLC™, into Verisk's FAST platform. The merger is expected to enhance the efficiency, agility, and scalability of operations between carriers and the distribution ecosystem, ultimately streamlining the insurance life cycle from purchase to claims. Verisk emphasizes the importance of this acquisition in fostering innovation and growth within the life and annuity market.
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