American Financial Group Acquires Insurance Risk Assessment Technology Firm Verikai.
M2 EQUITYBITES-January 20, 2022-American Financial Group Acquires Insurance Risk Assessment Technology Firm Verikai
(C)2022 M2 COMMUNICATIONS http://www.m2.com
US-based insurance holding company American Financial Group (NYSE: AFG) has acquired machine learning and artificial intelligence company Verikai, Inc, the company said.
Verikai utilizes a predictive risk tool for assessing insurance risk.
Verikai will continue to be led by its president and CEO, Jeff Chen. AFG paid approximately USD 120m in cash at closing.
Verikai is an insurance technology company, founded in 2018 and based in San Francisco, California.
Verikai leverages alternative data and machine learning to change the way the insurance industry views risk.
Focused primarily on underwriting efficiency, Verikai provides insurance companies with risk reports to optimize the...
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