American Family acquires two software companies

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American Family Insurance has acquired Networked Insights, a marketing analytics company incorporating AI and machine learning into its core platform.

American Family had been a minority stakeholder in the Chicago-based company since 2013, as well as a user of its software. Terms of the deal that make it the sole owner were not disclosed. The insurer also announced its purchase of HomeGauge, a home inspection software company based in Asheville, N.C. It says the buys are part of an enterprise-wide focus on digital transformation and effective use of data, analytics and artificial intelligence.

“These investments are part of our commitment to innovation through the use of data analytics and artificial intelligence for our customers and in ways that complement and improve the personal service we deliver to them,” said Peter Gunder, American Family Insurance chief business development officer. “The analytics capabilities we gain with Networked Insights will strengthen our ability to provide proactive protection to customers and to quickly identify and meet customer needs in new ways.”

[Read more from Gunder on what AmFam looks for in insurtechs]

All Networked Insights employees, 74 in total, will continue in their positions with the company, including co-founder and CEO Dan Neely, who will also join the American Family senior executive team.

“We have significantly invested in our technology platforms and data and analytics in the past three years,” says American Family chairman and CEO Jack Salzwedel. “This acquisition and others strengthen our best-in-class agency distribution by bringing best-in-class digital and data capabilities, providing our customers with both expertise and convenience.”

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Insurtech Vendor management Analytics Big data AmFam