NASDAQ stock Verisk Analytics Inc. (NASDAQ:VRSK) made the headlines after their public announcement of its acquisition of Emergent Network Intelligent, the leading innovator in fraud detection and insurance claims found in Newcastle upon Tyne, UK. However, the company chose to withhold the transaction details. Recently the company has been engaged in a number of acquisitions. This was the third company purchase.
FLEETOR Technologies, Inc. (NYSE:FLT), one of the main competitor against Verisk in the Business Services Space declared its fourth quarter and annual financial results for year ended December 31, 2016. A research report is about FLEETOR is expected in the next few days. AWS is now promoting the blog coverage about Fleeter on Verisk.
Benefits to the clients
Verisk stated that the acquisition of ENI will benefit its UK customers with the vast range of advanced technological tools coming with ENI. These tools will allow them to reduce their exposure to frauds, reduce costs and improve the motor claims work flow. Mark Anquillare the Executive President and Chief Operating Office in Verisk went further to insist on the benefits that comes with purchasing ENI. He added that ENI vowed a commitment to assisting insurers overcome challenges related to making substantial reductions in claims cycle time and fraud detection.
ENI supplies UK domestic insurers with up to date technological innovations. These innovations come in handy in helping the insurer’s process claims in a more efficient manner as well as detect frauds. ENI range of products have played a great role in the reduction of claims cycle time. They have also saw an efficient way for insurers to detect any suspicious claims through accessing a set of systems specializing in fraud detection and investigations. The system is able to analyze both structured and unstructured data leading to fraud detection.
The NASDAQ listed company, Verisk’s stock price fell $1.04 to $82.92 at the close of business on Tuesday 28, 2017. 863.09 shares in total were exchanged. This was an above the 3 months average volume of 669,300 shares. Within the year the company’s share price gained 13.84%. The NASDAQ based stock currently has a market cap of $13.70 billion.