Verisk to Acquire Rulebook

Combined power of Rulebook acquisition and Sequel enhances Verisk's position as a leading provider of insurance software solutions to the global specialty market

JERSEY CITY, N.J., December 3, 2018 - Verisk (Nasdaq:VRSK), a leading data analytics provider, has signed a definitive agreement to acquire Rulebook, an industry-leading provider of business intelligence and software solutions for the London Insurance Market.

Rulebook's proprietary, uniquely distinctive pricing engine can be used for internal pricing and underwriting as well as external distribution for the specialty insurance market through its Rulebook Hub platform. Rulebook also has a data analytics offering that develops business intelligence solutions for clients to enable historical, current, and predictive views of business operations.

Rulebook's pricing engine is used by some of the leading carriers in the London specialty insurance market to build underwriting rules for complex specialty insurance products through a simple, easy-to-use web-based platform. Through its platform, Rulebook provides clients with greater accuracy and better control over the pricing and distribution process, thus facilitating consistency and improving regulatory reporting and compliance.

"The acquisition will expand Verisk's existing offerings to the specialty insurance market by adding Rulebook's proprietary pricing and management information engines to Sequel's specialized software suite," said Ian Summers, CEO of Sequel. "These enhanced offerings will provide our customers with more efficient methods of distribution and significantly improved data analytics capabilities. The complementary applications give us a unique opportunity in our sector to complete the value chain, driving data through the process from broker to underwriter and quote through to claims settlement."

"We're very excited to join Verisk, as this will accelerate our growing business by providing greater access to global markets and Verisk's existing international customers," said Andy Galli, managing director of Rulebook. "We offer a unique value proposition that will be further enhanced by leveraging synergies and collaborating with other Verisk businesses and their data analytics."

Mark Anquillare, chief operating officer of Verisk, added, "Rulebook is a Verisk-like business that furthers our goal of providing leading solutions to the global insurance market, including a comprehensive chain of solutions to specialty insurers for mitigating risk and optimizing total cost of operations."