Verisk has agreed to invest in Rocket Enterprise Solutions, an insurtech provider in the German property claims sector that was founded in 2015.
Rocket’s property claims and underwriting technology has been widely adopted by insurers and service providers operating across Germany and Austria.
With the investment, Rocket will be able to expand its offering across key European and Asia-Pacific markets.
Having recently collaborated with a large insurer to develop a new underwriting solution, Rocket Risk, plans to improve its operational efficiency whilst enabling better quality underwriting decisions.
Hanno Kahmann, Managing Director, Rocket Enterprise Solutions commented: “Rocket has been on an extremely rapid growth journey since we founded the company in 2015.
“Through our intuitive technology and industry expertise we have made significant inroads into Germany.
“This investment will allow Rocket to further develop our solutions and accelerate our growth into the rest of Europe.”
As a strategic investor, Verisk will help shape the growth strategy and product direction of Rocket. Verisk also sees significant technology and data synergies across its claims and underwriting businesses that can accelerate insurers’ efficiency and profitability.
Joe Pendle, Managing Director at Verisk Claims Europe added: “The strong alignment between Rocket and Verisk’s growth strategy and a complementary technology fit that advances insurers’ goals were the driving force behind this investment.
“Rocket has greatly outperformed other insurtech providers in the German market since securing its first customers in 2017. We are excited to contribute our significant financial, technological and industry expertise to help Rocket take the next step on its growth journey.”
