Warburg and TorQuest-backed Opta buys getClarity

Opta Information Intelligence, an affiliate of SCM Insurance Services, has acquired getClarity, a Campbellville, Ontario-based data and analytical services provider.

Terms weren’t released.

Founded in 2010, getClarity offers consumer behaviour profiling solutions to insurers and other businesses.

Opta, a Toronto-based provider of risk information and property data, said the acquisition will help its insurance clients better understand customers and prospects.

SCM is an Edmonton-based insurance services provider. Last year, Canadian private equity firm TorQuest Partners sold a portion of its stake in the company, facilitating a majority investment by Warburg Pincus.

PRESS RELEASE

Opta Expands Innovations With The Acquisition Of getClarity

Toronto, ON (Feb. 4, 2019) – Opta Information Intelligence (Opta), Canada’s largest property data aggregator and leading provider of property risk intelligence and loss control services, is excited to expand their suite of innovations to the Canadian Property and Casualty (P&C) Insurance industry with the acquisition of getClarity.

getClarity is a data innovation company that offers consumer behaviour profiling solutions developed from multiple sources to provide a holistic view of customer and prospect behaviour. This helps to better understand existing customers and when, where and how to reach prospective ones. Using sophisticated multi-variate analysis, getClarity has developed 44 unique customer profiles to describe the people and communities across Canada ranging from “Executive on the Move”, to “Outdoor Adventurer”, to “Soccer Parent”. Each profile provides demographic information including insights on purchasing behavior, acquisition activity, social media preference and much more.

Human Behaviour Economics has become a trend whereby companies such as Netflix and Amazon have proven that understanding your customers is a successful business capability. With the addition of getClarity consumer behaviour data, Opta can help insurers understand all facets of their customers and prospects, not just the risks they insure.

This transaction brings together two organizations with proven track records of delivering new and creative solutions that allow insurers to transform their business models to compete and win in an ever-changing marketplace. “As the insurance industry continues to evolve in this digital age, we recognized that we could expand and enhance our transformative solutions by joining the Opta team. We’re thrilled by this opportunity and access to Opta’s center of excellence for innovation,” states getClarity’s Co-Founder Greg Purdy along with Shaun Donnelly, Co-Founder and Marc Rivait, Chief Data Architect.

This further strengthens Opta’s commitment to driving transformation through innovation and their position as market leader. “The addition of getClarity behavioural profiling data further complements our existing underwriting solutions and the value that we can deliver to our customers in the ongoing digital transformation of the industry. We now have the capability to not only provide industry best property data, but we can also help you understand who lives inside and what their purchasing habits are,” states Greg McCutcheon, President of Opta.

For more information on this acquisition, please contact info@optaintel.ca

About Opta

Opta Information Intelligence provides Canada’s insurance and corporate industries with tools to manage and authenticate risk information, in turn helping them become more competitive, generate business, and gain the insight required to make profitable business decisions. Visit www.optaintel.ca to learn more.

About getClarity

getClarity offers a unique mix of data and analytical services. With exclusive access to a variety of data sources we have built segmentation and profiling algorithms that allow our customers to understand their existing customers and when, where and how to reach their prospects. We provide data, reports, analytics and mapping services to visualize complex situations in a few mouse clicks. Our customers include the largest Canadian insurance companies and brokers, the auto industry, pharmaceuticals, retailers, and other large and small businesses.