American Family Insurance has acquired Networked Insights, a Chicago-based data and analytics software company, for undisclosed sum.
The acquisition will enable American Family to build on its current advanced analytics capabilities including the use of data, advanced analytics and artificial intelligence (AI).
Commenting on the deal American Family chairman and CEO Jack Salzwedel said: “We have significantly invested in our technology platforms and data and analytics in the past three years.
“This acquisition and others strengthen our best-in-class agency distribution by bringing best-in-class digital and data capabilities, providing our customers with both expertise and convenience.”
Upon completion of transaction, Networked Insights will operate as a separate subsidiary of the American Family Insurance enterprise.
Besides providing services to its customers, Networked Insights staff will co-operate with American Family data scientists on projects using advanced analytic capabilities to enhance customer interactions and business value.
Under the terms of the agreement, all 74 employees of All Networked Insights will continue in their positions. Additionally, Networked Insights founder and CEO Dan Neely and Gerry Komlofske, president and COO, will continue as leaders of the firm.