Technology and data company Synergy Cloud has acquired the majority stake in WeatherNet from Sedgwick.
The deal was completed on 30 April for an undisclosed sum. The acquisition expands Synergy’s current data and insights offering as the Claims Consortium Group-owned company continues to focus on providing data and software solutions to the UK insurance market.
Since its inception in 1995, WeatherNet has grown to become a trusted weather provider for UK insurers. It uses a reservoir of urban-based weather data to supply historic, current and forecast services.
Jeremy Hyams, founder and chief executive officer of Claims Consortium Group, said: “I am delighted to welcome WeatherNet to Synergy and the group. As one of the most recognised and respected brands in the industry, it has been pioneering claims technology and data since 1995. The team’s extensive expertise will perfectly complement our existing offering and add a new dimension to our portfolio as we embark on new strategic initiatives.”
Steve Roberts, founder and owner of WeatherNet, said: “We are delighted to be joining Synergy and Claims Consortium Group and would like to thank Jeremy and his team for their interest, trust and for making everyone here feel so welcome. We look forward to this new and exciting chapter, continuing to build value for our clients and staying at the vanguard of the insurtech market.”