Verisk Signs Definitive Agreement to Acquire SuranceBay to Expand its Life & Annuity Offerings

Rhea-AI Summary

Verisk (Nasdaq: VRSK) has announced a definitive agreement to acquire SuranceBay, a leading provider of producer licensing and compliance solutions for the life and annuity industry, for $162.5 million in cash. The acquisition will integrate SuranceBay's solutions, including its flagship SureLC™ agency management software, into Verisk's FAST platform.

The strategic combination aims to enhance efficiency in the insurance lifecycle by streamlining operations between carriers, general agencies, insurance agents, and consumers. The integration will become part of Verisk's Life Solutions platform, with SuranceBay's technology complementing FAST's capabilities, which recently earned its fourth consecutive Leader ranking in ISG's Provider Lens™ evaluation.

Positive

• Strategic acquisition valued at $162.5 million strengthens Verisk's life and annuity platform
• Integration enhances workflow efficiency between carriers and distribution partners
• Expands Verisk's capabilities in producer licensing, onboarding, and compliance solutions
• FAST platform's strong market position with fourth consecutive Leader ranking in ISG's evaluation

Negative

• Acquisition subject to customary closing conditions which may delay completion
• Financial impact on consolidated results not yet disclosed

Insights

M&A and Financial Analyst

Verisk's $162.5M SuranceBay acquisition strategically expands its life insurance capabilities, enhancing its industry-leading FAST platform with distribution solutions.

Verisk's $162.5 million cash acquisition of SuranceBay represents a strategic expansion of its life and annuity offerings by integrating producer licensing, onboarding, and compliance solutions into its ecosystem. This targeted acquisition addresses a critical friction point in the insurance value chain - the connection between carriers and distribution partners.

The deal will incorporate SuranceBay's flagship SureLC™ multi-carrier contracting automation solution into Verisk's FAST platform, which has maintained a leadership position for four consecutive years according to ISG's Provider Lens™ evaluation. This integration creates an end-to-end solution covering the entire insurance lifecycle from purchasing experience through claims processing.

The acquisition aligns with Verisk's vertical integration strategy in the life insurance technology space. By streamlining the producer licensing and appointment process, Verisk can deliver enhanced operational efficiencies to carriers while simplifying distribution - addressing a persistent pain point in an industry facing increasing competitive pressure and digitization demands.

While the $162.5 million price tag isn't substantial relative to Verisk's market capitalization, the acquisition's strategic value lies in enhancing the company's competitive positioning in the life insurance software market by expanding functionality and deepening relationships with existing clients. Management has indicated they will provide additional financial impact details during their upcoming Q2 2025 earnings call.

SuranceBay joins Verisk’s FAST platform to enhance efficiency between carriers and the distribution ecosystem

Jersey City, N.J., July 17, 2025 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, has signed a definitive agreement to acquire SuranceBay, a leading provider of producer licensing, onboarding, appointment and compliance solutions for the life and annuity industry, for $162.5 million in cash. This acquisition underscores Verisk’s commitment to streamlining and automating the process of buying and selling insurance, and to supporting a robust life and annuity ecosystem with solutions that enhance workflows between carriers, general agencies, insurance agents and consumers.

With this acquisition, SuranceBay’s solutions, including its best-in-class agency management software, SureLC™, will become part of Verisk’s FAST, the leading life and annuity platform. Together, these capabilities will cover all aspects of the insurance life cycle, from the buying experience through claims and the critical relationship between carriers and the distribution market. The integration is designed to enhance efficiency, agility and scalability to reduce friction between carriers and distribution partners. We will provide more details around SuranceBay and its impact on Verisk’s consolidated financial results on our second quarter 2025 earnings conference call.

SuranceBay develops and services innovative software that simplifies and automates the process of buying and selling insurance. Its solutions provide an integrated experience for insurance companies, general agencies, insurance agents and consumers. Its flagship solution, SureLC™, is a multi-carrier contracting automation solution that is fully synchronized with multiple data sources, providing producers and agencies with the ability to seamlessly perform functions related to licensing, contracting and appointing producers.

“Verisk is committed to investing in the life and annuity space to drive efficiencies in the ecosystem, and we know that the connection between carriers and distribution is crucial in an increasingly dynamic market,” said Saurabh Khemka, co-president of underwriting solutions at Verisk. “We’re excited to welcome the SuranceBay team to invest in industry solutions that will help our clients grow their business, enhance the customer experience and foster innovation. Together, we’re building a scalable, future-ready ecosystem the industry can rely on.”

SuranceBay will become part of Verisk’s Life Solutions, a platform of software components designed to modernize, streamline and scale operations for the life and annuity industry. Verisk’s industry-leading FAST platform most recently earned a fourth consecutive Leader ranking in ISG’s Provider Lens™ evaluation for Life and Retirement Platform Solutions in 2024.

“The Verisk and SuranceBay teams share a joint focus on our clients and technology that will help them streamline operations, making it simpler and faster to buy and sell insurance,” said Anatole Tartakovsky, SuranceBay CEO. “We knew it was the right time to come together to deliver the efficiencies the life and annuity market needs.”

The transaction is subject to customary closing conditions.

About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom. 

Media contact:
Amy Ebenstein
amy.ebenstein@verisk.com 
551.225.0585

FAQ

How much is Verisk (VRSK) paying to acquire SuranceBay?

Verisk is acquiring SuranceBay for $162.5 million in an all-cash transaction.

What are the main benefits of Verisk's acquisition of SuranceBay?

The acquisition will enhance efficiency between carriers and distribution partners by integrating SuranceBay's producer licensing and compliance solutions with Verisk's FAST platform, streamlining the insurance buying and selling process.

What is SuranceBay's main product offering?

SuranceBay's flagship product is SureLC™, a multi-carrier contracting automation solution that synchronizes with multiple data sources for licensing, contracting, and appointing producers.

When will Verisk provide more details about SuranceBay's financial impact?

Verisk will provide more details about SuranceBay's impact on consolidated financial results during their second quarter 2025 earnings conference call.

Who will lead the integrated SuranceBay business at Verisk?

SuranceBay will become part of Verisk's Life Solutions platform, with the integration overseen by Saurabh Khemka, co-president of underwriting solutions at Verisk.