Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, has acquired Krug Sachverständigen GmbH, a Germany-based motor claims solutions provider. The acquisition expands Verisk’s claims and casualty offerings across Europe.
Founded in 1982, SV Krug has established an industry-leading position in the German insurance market through highly digitalised solutions that help insurers and car manufacturers achieve better and faster customer service, leading to sustainable reductions in costs. SV Krug streamlines motor claims with digital solutions that enable insurers to quickly obtain claim photos and information from policyholders, analyze those claims and deliver payments to policyholders.
“Digitalisation has become increasingly important to accelerate the claims process, allowing insurers to focus on their core competencies and cost-saving measures,” said Oliver Krug, managing director of SV Krug. “The implementation of a neutral and independent ecosystem in claims management is our top priority. As part of Verisk, we’ll be well positioned to enhance our role as a strategic partner and explore additional opportunities to automate the motor claims process for added benefits to both the insurer and policyholder / liability claimant.”
The acquisition is highly complementary to Actineo, a Verisk business that was acquired in 2021. Actineo is a leader in the digitalisation and medical assessment of personal injury claims in Germany and Austria, offering a comprehensive portfolio of services, technology and data solutions to support the entire personal injury settlement process.
“Verisk will add SV Krug’s established claims management solutions to Verisk’s leading data analytics and insurance ecosystem to provide an end-to-end claims solution to the European insurance market,” said Olav Skowronnek, managing director for Continental Europe at Verisk Claims Solutions. “SV Krug’s synergies with Actineo show great promise to support our clients by optimising operational efficiency and improving the customer experience.”