31 May 2023Analysis

Verisk buys up Morning Data

Verisk has acquired Morning Data, a supplier of software to brokers and managing general agents (MGAs) in London and across the globe.

Verisk said that the acquisition enables it to enhance and expand its solutions for straight-through processing and distribution to the underserved and growing market of SME brokers, coverholders, MGAs, captives and (re)insurers.

Morning Data provides end-to-end processing, with full audit trails. London Market practitioners can use Morning Data’s software to process a variety of styles of business and capture granular risk-level data, using global standards and structured data.

“For more than 30 years, Morning Data has helped the market optimise operations with innovative software solutions,” said Morning Data founder and chief executive Kirstin Duffield. “By joining the Verisk team, we’re looking forward to supporting the London and international insurance market in the next step of its digital transformation journey.”

Morning Data will become part of Verisk’s Specialty Business Solutions. The suite enables insurance professionals to efficiently manage critical process steps and calculate risk accumulation and exposure impact across complex specialty lines. It includes the web-based analytical engine Sequel Impact; the workflow management solution Sequel Claims; pricing, underwriting and distribution platform Sequel Rulebook and the digital trading platform Sequel Whitespace.

“As a core system and integral part of clients’ daily workflow, Morning Data is trusted by insurers, broker and MGA customers to manage their risk placement processes,” said Tim Rayner, president of Verisk Specialty Business Solutions. “Together we’ll be able to help more coverholders, brokers and carriers reap the benefits of enhanced automation and streamlined workflows.”