Verisk Acquires Morning Data to Support Digital Transformation of International Broker and MGA Market
Press -- 30 May 2023
Verisk has acquired Morning Data, a supplier of state-of-the-art software to brokers and managing general agents (MGAs) in London and across the globe. The acquisition enables Verisk to enhance and expand its solutions for straight-through processing and distribution to the underserved and growing market of SME brokers, coverholders, MGAs, captives and (re)insurers.
Morning Data provides end-to-end processing, with full audit trails and ease of reporting. London Market practitioners can use Morning Data’s software to process a variety of styles of business and capture granular risk-level data, using global standards and structured data.
“For more than 30 years, Morning Data has helped the market optimise operations with innovative software solutions,” said Morning Data founder and CEO Kirstin Duffield. “By joining the Verisk team, we’re looking forward to supporting the London and international insurance market in the next step of its digital transformation journey.”
Morning Data will become part of Verisk’s Specialty Business Solutions, a modern, powerful and integrated suite of end-to-end management solutions. The suite enables insurance professionals to efficiently manage critical process steps and calculate risk accumulation and exposure impact across complex specialty lines. It includes the web-based analytical engine Sequel Impact; the workflow management solution Sequel Claims; the award-winning pricing, underwriting and distribution platform Sequel Rulebook® and the digital trading platform Sequel Whitespace.
“As a core system and integral part of clients’ daily workflow, Morning Data is trusted by insurers, broker and MGA customers to manage their risk placement processes,” said Tim Rayner, president of Verisk Specialty Business Solutions. “Together we’ll be able to help more coverholders, brokers and carriers reap the benefits of enhanced automation and streamlined workflows.”
About Morning Data
Established in 1985, Morning Data is a multi-award-winning supplier of world-class software and service solutions for the global insurance industry. The family-run business enjoys a long and rich history in the insurance industry, and its involvement with Lloyd's dates back to the 1970s with the provision of the “green vans” between London and Chatham.
Today, Morning Data continues to deliver exceptional solutions to 30+ valued clients worldwide, including Brokers, MGAs, Coverholders, Insurers, Reinsurers and Captives across both start-ups and established operations. Its product portfolio has been extended to embrace a data-first and well-integrated ecosystem of services to support its users.
"As a core system and integral part of clients’ daily workflow, Morning Data is trusted by insurers, broker and MGA customers to manage their risk placement processes. Together we’ll be able to help more coverholders, brokers and carriers reap the benefits of enhanced automation and streamlined workflows.
- Tim Rayner, Chief Executive Officer."