LONDON, February 10, 2022 — Verisk (Nasdaq:VRSK), a leading global data analytics provider, has entered into an agreement to make a strategic investment in Rocket Enterprise Solutions GmbH, a fast growing insurtech provider in the German property claims sector. Rocket’s strong property claims and underwriting technology has been widely adopted by insurers and service providers operating across Germany and Austria. The Verisk investment will enable Rocket to expand its offering across key European and Asia Pacific markets.
Founded in 2015, Rocket Enterprise Solutions GmbH (“Rocket” or “RES”) has grown rapidly to become a market leader, with many of the biggest insurers and service providers in Germany and Austria using its innovative portfolio of solutions for property claims and underwriting processes. Its Rocketform solution for claims inspection, documentation and calculation, is perfectly suited to the European markets. Recently, the company collaborated with a large insurer to develop a new underwriting solution, Rocket Risk, which digitizes the risk inspection and assessment process, resulting in greater operational efficiency and enabling better quality underwriting decisions.
“Rocket has been on an extremely rapid growth journey since we founded the company in 2015. Through our intuitive technology and industry expertise we have made significant inroads into Germany,” said Hanno Kahmann, Managing Director, Rocket Enterprise Solutions. “This investment will allow Rocket to further develop our solutions and accelerate our growth into the rest of Europe.”
As a strategic investor, Verisk will help shape the growth strategy and product direction of Rocket. Verisk also sees significant technology and data synergies across its claims and underwriting businesses that can accelerate insurers’ efficiency and profitability.
“The strong alignment between Rocket and Verisk’s growth strategy and a complementary technology fit that advances insurers’ goals were the driving force behind this investment,” says Joe Pendle, Managing Director at Verisk Claims Europe. “Rocket has greatly outperformed other insurtech providers in the German market since securing its first customers in 2017. We are excited to contribute our significant financial, technological and industry expertise to help Rocket take the next step on its growth journey.”
The transaction is subject to customary closing conditions.
About Rocket Enterprise Solutions GmbH
Rocket Enterprise Solutions GmbH is a Berlin based insurtech that specializes in the digitalization of claims and underwriting business processes for the insurance industry. In just a short time, Rocket has grown to become the market leader for claims inspection, documentation and calculation in Germany and Austria. Many of Germany’s largest insurance companies and service providers rely on Rocket’s platform to run their claims operations. For more: rocket-es.com.
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialised markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.
Kathrin Melzer | Verisk/Actineo
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Ali Krueger Herbert | Verisk | Jersey City, NJ (US)