ISL Intermediary Systems Limited, the risk modelling and analytics company for the insurance industry, has been acquired by Experian®, the global information solutions company.
Announcing the acquisition, Mike Prentice, Managing Director of Experian’s Insurance Services division, said:
“With over 90 customer licences in place for its products and services, ISL is a market leader in the supply of high quality risk models designed to analyse and assist in the pricing of personal and commercial lines insurance. Its reputation has been built on the accuracy and quality of its data sources and its highly successful Whatif?™ and Perils products.
“Experian recognises the expertise that ISL brings to the insurance industry and its proven track record of developing innovative products. With continued investment and support, clients can only benefit from this development which will provide a secure platform for the introduction of new and even more powerful risk modelling tools for the insurance industry.”
The Whatif?™ market analysis product is the standard in the insurance market and the ISL perils models are recognised, along with Experian products, as being the most accurate and of the highest quality currently available. A number of the key data sets feeding into the perils models are exclusive to ISL and the team has built up a detailed knowledge base in this area over a number of years.
Mark Harrison, ISL Commercial Director, added:
“We expect to benefit greatly from the synergies between the two companies and Experian’s support for our product development. Experian has been highly successful in providing solutions to the insurance sector, which include the Claims Underwriting Exchange (CUE) and Motor Insurance Database (MID), and the wealth and variety of its information resources will help in further enhancing ISL’s offering and our commitment to providing quality solutions for the insurance market”.
Ellen Carroll
Press Relations, Experian
Riverleen House
Electric Avenue
Nottingham NG80 1RH
Tel: 0115 992 2515
Mobile: 07967 342824
Email: ellen.carroll@uk.experian.com
Intermediary Systems Ltd. (ISL) is a risk modelling consultancy and software supplier providing a comprehensive range of professional support services to insurers on all aspects of risk selection and risk management. With over 90 customer licences in place for its products and services, ISL is a high quality niche player and the market leader in the supply of data to assist general insurance risk pricing in the UK.
The Whatif?™ market analysis product is the standard in the insurance market and the ISL perils models are recognised as being the most accurate and of the highest quality currently available. A number of the key data sets feeding into the perils models are exclusive to ISL and the team has built up a detailed knowledge base in this area over a number of years.
ISL started out in 1991 and focused initially on bespoke quotation software and market analysis software for household insurance.
In 1997 the company expanded its range of products, focusing on market analysis software for other lines of general insurance and on data models to assist risk pricing.
The team is an experienced blend of software engineers, developers, statisticians, PhD level flood risk specialists as well as geographical information systems analysts and insurance professionals.
ISL is now the established leader in the UK insurance market, offering high quality software designed to analyse and assist in the pricing of personal and commercial lines insurance.
Experian is a global leader in providing information solutions to organisations and consumers. It helps organisations find, develop and manage profitable customer relationships by providing information, decision-making solutions and processing services. It empowers consumers to understand, manage and protect their personal information and assets. Experian works with more than 40,000 clients across diverse industries, including financial services, telecommunications, healthcare, insurance, retail and catalogue, automotive, manufacturing, leisure, utilities, property, e-commerce and government. Experian is a subsidiary of GUS plc and has headquarters in Nottingham, UK, and Costa Mesa, California. Its 13,000 people support clients in more than 60 countries. Annual sales exceed £1.3 billion.
For more information, visit the company’s website on www.experian.com.
The word ‘Experian’ is a registered trademark in the EU and other countries and is owned by Experian Ltd and/or its associated companies.