(RTTNews) - Verisk Analytics Inc. (VRSK), data analytics and risk assessment firm, Thursday said it has agreed to buy SuranceBay, a provider of producer licensing, onboarding, appointment and compliance solutions for the life and annuity industry, for $162.5 million in cash.
With this acquisition, SuranceBay's agency management software, SureLC along with Verisk's life and annuity platform, FAST will cover all aspects of the insurance life cycle.
"The Verisk and SuranceBay teams share a joint focus on our clients and technology that will help them streamline operations, making it simpler and faster to buy and sell insurance," said Anatole Tartakovsky, SuranceBay CEO.
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