RiskMatch acquired by insurance tech firm

RiskMatch, the Greenwichbased business intelligence and analytics company that provides portfolio management and placement solutions to insurance brokers and carriers, has been acquired by insurance technology firm Vertafore of Bothell, Washington. Financial terms were not disclosed.

Founded in 2013, RiskMatch delivers web-based solutions for insurance intermediaries and underwriting partners throughout the U.S. Its patented platform provides an array of portfolio management and placement solutions, analytics, internal and external benchmarking capabilities, and information management services designed to reduce costs, facilitate growth, and improve client service.

Vertafore has a network of more than 25,000 agencies and 1,000 carriers. It said the acquisition will now enable it to provide a comprehensive set of internal and external benchmarks, along with indepth reporting, which will allow brokers and insurers to better understand their book of business and relationships across the insurance distribution chain.

RiskMatch will operate as a separate business unit within Vertafore, while its founder and CEO Kabir Syed will join the Vertafore executive team.

- Kevin Zimmerman