Xceedance, a global provider of technology and digital solutions, has acquired Millennium Information Services (MIS), an insurance inspection and data analytics firm based in the US.
This acquisition expands the Xceedance Americas team by nearly 200 members and adds a nationwide contractor network of over 1,300 inspectors. It enhances Xceedance’s underwriting support and analytics capabilities for insurers and managing general agents (MGAs).
Additionally, this move accelerates Xceedance’s growth in personal lines insurance and establishes a strong foundation for offering inspection and data analytics solutions to commercial carriers and MGAs.
MIS conducts more than 1 million inspections each year across residential, commercial, and agricultural properties, collaborating with over 80 insurance carriers and MGAs. The firm has gathered hundreds of millions of data points on various risk hazards and property conditions, which will drive the next phase of innovation for its MAPS® software platform. This platform supports decision-making, workflow management, and data analysis.
Arun Balakrishnan, CEO at Xceedance, stated, “Pairing our deep insurance operational expertise with Millennium’s inspection capabilities and MAPS® platform creates the most powerful, analytics-driven offering in the market. Our combined team in the Americas will now support more than 200 clients. We are excited to share the benefit of more real-time data and analysis to consider property risks with clients.”
Balakrishnan continued, “But even more, we’re eager to innovate and accelerate the development of tools and services that will drive improved carrier results as underwriters are empowered to make more informed, better decisions.”
Scott Dismeier, President of Millennium Information Services, remarked, “At Millennium, we’re focused on changing both the way property inspections are done and the value garnered by our clients of the data gathered by leveraging technology, as well as developing new ways to use historical and predictive inspection information for better risk management. Joining the Xceedance team takes everything to a new level immediately.”
He added, “We’re thrilled to be part of a company that delivers innovation and excellent customer service.”
Peter Flynn, Head of Personal Lines at Xceedance, said, “Carriers are facing daunting challenges as property risks evolve, and we see the results in market volatility in recent years. Our team has a tremendous opportunity to help clients see portfolio trends more clearly and empower underwriters to take decisive action at the risk level. It’s great to welcome the Millennium team to Xceedance.”
