Xceedance Acquires Millennium to Enhance Risk Analytics

Xceedance Acquires Millennium to Enhance Property Risk Analytics

Risk Analytics

Xceedance, Acquisition, Millennium, Risk Management

Xceedance boosts risk analytics and underwriting with Millennium acquisition, enhancing property risk management solutions.

Xceedance strengthens its leadership position in the insurance market with the acquisition of MIS, a US-based leading provider of property inspection and data analytics services. The strategic acquisition will further enhance the underwriting support and analytics capabilities that will enable Xceedance to provide more holistic risk management solutions to insurance carriers and MGAs.

Xceedance now gets easy access to more than one million annual inspections, thanks to nearly 200 new team members and a network of over 1,300 inspectors across the U.S. The vast amount of data from commercial, residential, and farm properties will be used to present extensive information on risk hazards and property conditions. This information will help enhance its MAPS software platform used by Xceedance to help insurers in decision-making, workflow management, and risk analytics.

Arun Balakrishnan, CEO of Xceedance, stated that the acquisition will help improve the risk analytics for the clients. He said, "The true strength of both companies combined will now benefit underwriters with real-time data and insights to make better, more informed decisions. Xceedance is committed to delivering a powerful analytics-driven solution, one that will empower insurers to better assess property risks with greater precision, through the enhancement of the MAPS platform."

Scott Dismeier, president of Millennium, said that through this partnership, the ability to use predictive inspection data for advanced risk management will be elevated. This acquisition puts Xceedance in a position to help insurers address changing property risks and market volatility better, as it will offer clearer portfolio trend perception.

Peter Flynn, head of personal lines at Xceedance, echoed this, but reckoned that enabling underwriters to make a decisive action on the risk level was critical. With this acquisition, Xceedance is well placed to lead at risk analytics, pushing innovation and delivering better results for insurers across the US.