TransUnion Enhances Solutions for the Insurance Industry With Majority Ownership of Drivers History
CHICAGO, IL--(Marketwired - Dec 2, 2014) - TransUnion announced today the acquisition of a majority interest in Drivers History, a leading provider of traffic violations and criminal court data. This transaction enhances TransUnion's position as a trusted provider of data and analytic solutions to the insurance industry and strengthens Drivers History's offering and market access by leveraging TransUnion's carrier relationships and connectivity. Although it will retain its operational independence, Drivers History will be expanding its relationship with TransUnion's Insurance business unit for the immediate benefit of both organizations. Financial terms of the deal were not disclosed.
In March 2014, TransUnion and Drivers History entered into a strategic relationship to offer the insurance industry a robust database of drivers' moving violations and other offenses. This valuable, alternative data source focused on increasing the accuracy of driving-related data and improving the efficiency of traditional Motor Vehicle Report ("MVR") spend.
"Bringing Drivers History into the TransUnion fold will enhance our ability to provide insurance carriers with exactly what they need: integrated solutions that increase underwriting precision and efficiency, while lowering overall cost," said Chris Cartwright, president of TransUnion's USIS division. "Insurers recognize the predictive value of robust traffic violation court data in making informed decisions and building accurate models. With this and other recent transactions, TransUnion is emphasizing its commitment to the insurance industry."
"TransUnion is the perfect partner for Drivers History on a number of levels," said Stephen Esposito, co-founder and chief executive officer of Drivers History. "First, Drivers History will be able to leverage TransUnion's existing resources and data products to enhance its capabilities and product solutions for existing and new clients. Second, we expect to leverage TransUnion's established connectivity to customers and sterling reputation to increase our access to the insurance industry and other markets. This is a win for Drivers History and its clients."
TransUnion Insurance is an established provider of credit-based information, integrated data solutions and analytics to the insurance industry, serving over 200 underwriters, including nine of the top 10 carriers. The investment continues 40 years of TransUnion leadership in leveraging its robust data assets to inform decisions and build strong economies throughout the world.
As a global leader in information and risk management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering high quality data, and integrating advanced analytics and enhanced decision-making capabilities. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion reaches businesses and consumers in 33 countries around the world. www.transunion.com/business.
About Drivers History
Drivers History is the industry leader in acquiring, processing/aggregating and distributing traffic and criminal related court data for insurance risk management. Drivers History maintains DocIT™, a comprehensive real-time database of drivers in a variety of states that commit moving violations and other offenses. DocIT™ enhances insurance pricing, underwriting, fraud detection and retention activities. Privately held and headquartered in Cherry Hill, NJ, Drivers History has been collecting open public records and other data since 2002. www.drivershistory.com.