Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, has acquired Rocket Enterprise Solutions GmbH, a Germany-based insurtech provider in the property claims sector. The acquisition, which follows a strategic investment by Verisk in Rocket in 2022, will further Verisk’s expansion in Europe and the company’s goal of helping insurers and claims service providers leverage more holistic data and technology tools to enhance the claims experience.

Founded in 2015, Rocket Enterprise Solutions GmbH (“Rocket” or “RES”) has grown rapidly to become a market leader. Rocket’s strong property claims and underwriting technology has been widely adopted by many of the largest insurers and service providers across Germany and Austria. Its innovative portfolio of property claims and underwriting solutions include Rocketform, for claims inspection, documentation and calculation, and Rocket Risk, which digitises the risk inspection and assessment process, resulting in greater operational efficiency and enabling better quality underwriting decisions. The suite streamlines the claims and underwriting processes to accelerate insurers’ efficiency and profitability.

“Our work with the Verisk team has allowed us to further develop Rocket’s core technology platform in preparation for international expansion,” said Hanno Kahmann, Rocket CEO. “Joining Verisk was a natural next step to support property claims and underwriting workflows for the global insurance marketplace.”

Rocket joins Verisk’s European claims solutions group and will be led by Michael Rodenberg, Verisk’s director of property claims solutions in Germany. The acquisition expands the company’s footprint in Germany, which includes Actineo, a leader in the digitalisation and medical assessment of bodily injury claims, and Krug, a market-leading motor claims solutions provider.

“Throughout our work together, we’ve seen enormous potential in Rocket’s ability to support clients’ digital transformation journeys,” said Samer Abou-Jaoudé, Verisk Claims Solutions Managing Director in Continental Europe. “Rocket’s offerings and the team’s expertise are perfectly suited to enhance the digitalisation the industry needs to evolve.”

The transaction is subject to customary closing conditions.