Alpharetta, Ga. – ChoicePoint has resumed its acquiring ways by snapping up Optimal Decisions Group (ODG), an Australian firm that develops analytics and software for the insurance industry.
ODG solutions include optimized pricing for auto and home insurance, as well as predictive modeling, multi-year simulation and optimization. ChoicePoint will integrate ODG's pricing optimization into its Data Services transactional products, the company says. The acquisition is the sixth the Alpharetta-based company has made in the insurance technology space since 2006.
“The acquisition of ODG into the ChoicePoint portfolio reaffirms our strategy to expand and deliver highly advanced analytics through predictive modeling, software and consulting services to the property/casualty insurance market,” says Liz Draper, ChoicePoint GM, insurance analytics. “Integrating ODG's capabilities into our existing insurance analytic solutions will help us deliver the products ChoicePoint's clients are seeking.”
“Our focus at ODG is to provide carriers with innovative pricing solutions to drive profitable performance,” says Peter Orlay, ODG director. “We share ChoicePoint's enthusiasm for analytics and we look forward to applying our resources and technology to add to the great value that they offer the industry today.”
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.
Sources: ChoicePoint, INN Archives
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