American Family Insurance has acquired Chicago-based data and analytics software company Networked Insights for an undisclosed purchase price.
The acquisition makes American Family the sole owner of Networked Insights, in which the insurance company has been a minority investor since 2013. American Family has been increasing its investment into the software company over time.
Networked Insights is expected to accelerate American Family's digital transformation and use of data, advanced analytics and artificial intelligence. The addition of the software company into American Family as a stand-alone subsidiary is also expected to strengthen agency distribution.
All 74 Networked Insights employees will continue working for the company, including Networked Insights Founder and CEO Dan Neely and President and COO Gerry Komlofske. Neely will also become part of the American Family senior executive team.
Additionally, American Family has acquired Asheville, N.C.-based HomeGauge, a home inspection software company with 21 employees. It also acquired the software platform and intellectual property of HomeHubZone, another home inspection reporting software company.