Am Fam buys software firm
Noting the acquisition will accelerate its digital transformation, American Family Insurance Group has announced the acquisition of Networked Insights, a Chicago-based data and analytics software company.
American Family says the acquisition allows it to build on its current advanced analytics capabilities. These capabilities include the use of data, advanced analytics, and artificial intelligence through its data science and analytics lab, a strategic data analytics division, and collaborative data-science projects with UW–Madison.
The purchase price is not being disclosed.
Peter Gunder, chief business development officer for American Family, says the analytics capabilities gained with Networked Insights will strengthen the insurer’s ability to protect customers and identify their needs.
American Family is a Networked Insights client and has been a minority investor in the company since 2013. With the acquisition, American Family became its sole owner, and Networked Insights will operate as a stand-alone subsidiary.
In addition to its Chicago headquarters, Networked Insights also has operations in New York City and Madison, where American Family is headquartered.
All 74 Networked Insights employees will continue in their positions with the company, including Dan Neely and Gerry Komlofske, president and chief operating officer. They also will join American Family’s senior executive team.
In related news, American Family also has acquired HomeGauge, a home inspection software company based in Asheville, N.C.