ALPHARETTA, Ga.-- ChoicePoint, a provider of identification and credential verification services, today announced its acquisition of InsurQuote, a leading provider of insurance rating solutions to the property and casualty carrier markets.
"InsurQuote's products will enhance ChoicePoint's analytics capabilities in the insurance sector," said Richard Collier, vice president, ChoicePoint Property & Casualty Personal Lines. "InsurQuote solutions utilize industry leading analytics that enable the competitive analysis of multiple carriers for automobile and home insurance products.
The combination of our respective services and technologies will allow ChoicePoint to provide more comprehensive pricing and comparative rate analysis to our insurance clients."
"We are delighted to join the growing ChoicePoint team," said Keith Toney, chief executive officer of InsurQuote. "This alliance creates a powerful alignment of services that will create robust analytical offerings for our clients."
The management team and approximately 60 employees of InsurQuote are expected to remain with ChoicePoint and continue to operate out of its facility in Orem, Utah. InsurQuote was founded in 1985.
The transaction is not expected to have a material impact on ChoicePoint's financial results. The company does not expect the acquisition to be dilutive to earnings.
