Vertafore has announced the acquisition of insurtech startup RiskMatch, a business intelligence and analytics company providing portfolio and data management services to insurance brokers and underwriters.

RiskMatch will operate as a separate business unit within Vertafore. Its web-based platform enables underwriters to enhance performance, reduce costs, facilitate growth, and improve their client service capabilities, the companies said. Terms of the deal were not disclosed.

"We are thrilled to join Vertafore [helping] brokers and carriers effectively mine big data to better understand and more quickly respond to the changing needs of their customers," said RiskMatch CEO and Founder Kabir Syed, in a statement. "This combination will be highly impactful for customers as they have been asking for broader capabilities directly related to analytics, insights, and ease of use."

Syed will also join Vertafore’s executive team as senior vice president of intelligence solutions. Vertafore has a network of more than 25,000 agencies and 1,000 carrier partners.

"We are excited to work alongside Kabir and the team at RiskMatch as we continue to deliver on our promise to customers to provide the best available data and market insights at a time when change and disruption are accelerating," Amy Zupon, Vertafore’s CEO added.

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