Verisk, a company known for insurance data analytics and technology, has announced plans to buy AccuLynx, a software platform that helps residential roofing contractors manage their work. The deal is valued at $2.35 billion and is expected to close by the end of the third quarter.
AccuLynx offers tools for everything from finding leads and sales to ordering materials and managing jobs. Most of its 5,000+ customers focus on insurance-related roofing repairs and restoration. This fits well with Verisk’s existing Property Estimating Solutions, which helps insurance companies and contractors work together on claims by managing estimates and improving communication.
According to Verisk’s CEO, Lee Shavel, AccuLynx complements their services perfectly. He pointed out that roofs make up over 25% of all residential insurance claim values because they are one of the biggest and most expensive parts of a home. Many customers have asked for better roofing data and reports, so adding AccuLynx’s platform will allow Verisk to offer more value and create opportunities to reach more clients.
Aaron Brunko, president of Verisk Property Estimating Solutions, added that acquiring AccuLynx will help them support this important market even better. He emphasized the benefit to everyone involved in insurance claims, from companies to policyholders.
Overall, this move looks set to strengthen Verisk’s place in the insurance and roofing industries by combining two businesses that share many customers and goals, aiming to make claims and restoration work smoother for all parties.