Houlihan Lokey Advises HazardHub
Houlihan Lokey is pleased to announce that HazardHub, Inc., a leading insurtech provider of API-driven property risk insights to the P&C insurance industry, has been acquired by Guidewire Software (Guidewire). The transaction closed on August 18, 2021, and terms of the transaction were not disclosed.
Founded in 2016 and headquartered in San Diego, HazardHub powers decisions for 110+ organizations, including insurers, reinsurers, brokers, MGAs, and other insurtechs who use HazardHub to underwrite with confidence, microsegment rating zones, manage risks profitably, and drive competitive advantage. HazardHub curates, analyzes, and distills vast amounts of data to deliver a comprehensive, national catalog of risks that may damage or destroy property, including perils from air (wind, hail, tornado, lightning), water (flood, freeze, coastal storm surge), earth (earthquake, brownfield, Superfund), and fire (wildfire and fire protection). In less than two seconds, HazardHub’s API provides risk scores and the supporting underlying information for any property in the United States. HazardHub’s team of geographic information systems (GIS) data engineering, data science, hazard specialists, and technology veterans have 100+ years of combined experience creating, modeling, and deploying large geospatial databases.
Guidewire provides a P&C insurance software platform combining core operations, digital engagement, analytics, and artificial intelligence (AI) applications delivered as a cloud service or self-managed software. With 400+ insurers and 1,000+ successful projects supported by a robust R&D team and partner ecosystem, Guidewire has an unparalleled implementation track record. Guidewire’s marketplace provides hundreds of applications that accelerate integration, localization, and innovation to help enable customers’ success.
Houlihan Lokey served as the exclusive financial advisor to HazardHub. This deal represents Houlihan Lokey’s continued success advising market-leading insurance and property technology companies, with a rapidly growing presence across all segments of financial technology.
RELATED: Financial Services, FinTech, Technology