Verisk, 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.
Financial details of the deal were not disclosed.
Founded in 1982, SV Krug has established an industry-leading position in the German insurance market through highly digitalized 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.
The acquisition is highly complementary to Actineo, a Verisk business that was acquired in 2021. Actineo is a leader in the digitalization 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.
“Digitalization 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,” Krug added.
“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.”
About Krug Sachverständigen GmbH
Cologne-based Krug Sachverständigen GmbH serves insurance companies, car manufacturers, mobility service providers, and automotive body shops with customized assessment services, digital tools, and AI-based software solutions for claims management. Based on technological innovation and a network of 120 permanent experts throughout Germany, SV Krug offers industry-specific solutions for private and business customers – from motor vehicle damage appraisals and document checking reports to securing evidence and determining vehicle valuations.
About Verisk
Using advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps clients strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. The company is headquartered in Jersey City, N.J.
Source: Verisk
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