Data analytics provider Verisk has acquired Opta, a Canadian provider of property intelligence and technology solutions, to further expand Verisk’s footprint in the Canadian market.
The acquisition has enabled Verisk to adopt Opta’s technology and commitment to innovation, which will further fuel efforts to help customers improve operational efficiencies by delivering unique data assets via long-term integration with customer workflows.
Opta’s Canadian database aligns well with Verisk’s position in the marketplace and provides the opportunity for long-term product harmonization.
About three years after Verisk’s founding in 1971, Opta began focusing on providing advice and information to a broader range of clients in the insurance industry from insurers and brokers to governments and risk managers across a wide range of services and topics.
Greg McCutcheon, president of Opta said: “From the focus on building the insurance ecosystem to the passion for empowering customers with data-driven insights, it was clear that we have a strong cultural bond with Verisk.
“Our combined deep domain expertise, advanced technology and unique data assets will be incredibly advantageous for our customers and help the market accelerate the use of data and insights as a competitive advantage.”
Mark Anquillare, Verisk’s chief operating officer and group president commented: “Verisk and Opta share similar roots, an intense focus on our customers’ needs, and a passion to serve as key partners that anticipate the needs of a critical industry.
“Together, we’ll accelerate our customers’ innovation agendas and create news ways to add value to their business and the insurance ecosystem. We are pleased to welcome the Opta team to the Verisk family.”
