Insurance Quantified, a commercial P&C underwriting technology provider, announced it has acquired Ann Arbor, Michigan-based Groundspeed Analytics, an ingestion and data solutions provider for the commercial P&C industry. The combination strengthens Insurance Quantified’s market leadership in underwriting technology and furthers its mission to maximize the value of data for commercial P&C insurers.
Both companies have made great strides introducing technology that enables faster, more informed underwriting decisions. Together, the united technology capabilities, market success, and committed backing of Two Sigma creates an unparalleled underwriting technology partner for commercial P&C insurers.
Insurance Quantified’s end-to-end underwriting workbench, SubmissionIQ, and Groundspeed’s ingestion and data solution will continue to be offered separately. The combined company also expects to expand its SaaS technology capabilities and data offerings for the commercial P&C industry.
Eric Kobe will join the Insurance Quantified leadership team. Insurance Quantified will also open an office in Ann Arbor, Michigan, where Groundspeed was founded.
The acquisition was completed on June 20, 2023. Sheppard, Mullin, Richter & Hampton LLP, served as legal counsel and Alvarez & Marsal served as financial and tax advisor to Insurance Quantified.
Topics Mergers & Acquisitions Michigan
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