Sequel to acquire Whitespace

Verisk Sequel has signed a definitive investment and acquisition agreement with Whitespace Software.

As part of the agreement, Whitespace will maintain its brand and autonomy.

Marcus Broome, chief platform officer of Whitespace, said: “Joining Sequel is a fantastic step forward for Whitespace, as this will accelerate development of our rapidly growing business. We offer our customers a unique proposition that will be further enhanced by collaborating with Sequel to create a compelling digital placement ecosystem for the London and global specialty (re)insurance markets. Together, we can offer more effective products and solutions for our respective customers, and at a faster pace; significantly contributing to the growth, digital transformation, and overall success of our customers.”

Ian Summers, CEO of Sequel, said: “We’re really pleased to partner with Whitespace and accelerate the development of their digital vision. The combination of Whitespace with our pricing, distribution and policy administration applications creates unique and powerful capabilities for the specialty market. Together, we can enable a seamless real-time quote-to-bind electronic placing and global distribution solution, with straight-through submissions for our existing and prospective customers. Our vision is to offer a best in class ecosystem to the market, fully aligned with and supportive of Lloyd’s Blueprint Two as well as other key market transformation initiatives.”

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