ALPHARETTA, Ga., Feb. 5 - ChoicePoint (NYSE:CPS) today announced it is acquiring Optimal Decision Group, a firm that develops and deploys advanced analytics and software to the insurance industry. The purchase of ODG will create additional value for clients by integrating ODG's pricing optimization into ChoicePoint's Data Services transactional products.
The transaction is not expected to have a material impact on ChoicePoint's financial results. The company does not expect the acquisition to be dilutive to earnings.
ODG is a recognized leader in optimized pricing for auto and home insurance, helping carriers better reach their financial objectives for both profit and growth, through innovations in predictive modeling, multi-year simulation and optimization.
"The acquisition of ODG into the ChoicePoint portfolio reaffirms our strategy to expand and deliver highly advanced analytics through predictive modeling, software and consulting services to the Property and Casualty insurance market," said Liz Draper, ChoicePoint general manager, insurance analytics. "Integrating ODG's capabilities into our existing insurance analytic solutions will help us deliver the products ChoicePoint's clients are seeking."
"Our focus at ODG is to provide carriers with innovative pricing solutions to drive profitable performance," said Peter Orlay, ODG director. "We share ChoicePoint's enthusiasm for analytics and we look forward to applying our resources and technology to add to the great value that they offer the industry today."
"ODG has proven itself to be a valued analytics firm with an impressive record of success, working with many of the top insurers in the U.S., U.K. and Australia," said Keith Toney, ChoicePoint vice president, analytics.
About Optimal Decision Group
Founded in 2002, ODG develops and deploys advanced analytics and software to assist retail financial institutions make more profitable customer-level decisions -- in targeted marketing, acceptance and underwriting, pricing, servicing, collections, and claims. For more information, visit www.optimaldecisions.com.
ChoicePoint (NYSE:CPS) provides businesses, government agencies and non- profit organizations with technology, software, information and marketing services to help manage economic and physical risks as well as identify business opportunities. Consumers have free access to the reports we create at ChoiceTrust.com. Learn what we do to protect consumer privacy by visiting www.PrivacyatChoicePoint.com and, for more information on our company, go to www.ChoicePoint.com.
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