updated 01/29/2013 9:05AM
CoreLogic purchases CDS Business Mapping
CoreLogic has acquired CDS Business Mapping, a company that supplies information and products to underwriting firms, in a transaction that will allow the Irvine-based residential property information, analytics and service provider with a stronger portfolio of amenities for clients, and an enhanced position as an industry leader in geo-spatial property data and analytics.
CoreLogic provides services to more than 700 insurance carriers, agents and brokers. “The use of CoreLogic Spatial Solutions data and analytics has been expanding rapidly over the past several years in response to a growing demand by our clients for real-time geocoded property and hazard-related data, analytics and risk management services,” said Anand Nallathambi, president and CEO of CoreLogic. “The acquisition of CDS complements and expands our existing natural hazard risk management offerings and extends our client relationships deeper into the P&C vertical.”
CDS is a company dedicated to the creation and implementation of mapping solutions using Geographic Information Systems (GIS) technology. The firm’s flagship service is the RiskMeter Online, a real-time underwriting application based upon mapping technology that is used by underwriters and agents to automate property lookups. This Web-based product enables underwriters to determine the proximity to natural hazards for any property in the Unites States. The software technology is accessible and affordable for companies of any size. Related services offered by CDS include creating custom maps, geocoding and territory digitization.
“CDS is an established market leader with a scalable, subscription-based software as a service, or SaaS, business model,” said Frank Martell, chief financial officer at CoreLogic. He further explained that the RiskMeter online distribution platform enables CoreLogic to effectively increase its existing business while simultaneously growing CDS Data and Analytics segment footprint.
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