Capstone Partners advised Applied Insurance Research (AIR), a provider of risk-assessment and management technology, on its sale to Insurance Service Offices (ISO).
AIR is a leading provider of risk-assessment and risk-management technology for all major natural hazards in the U.S. and 40 countries worldwide. The deal signals ISO’s and AIR’s stepped up commitment to help the property/casualty industry and other industries manage extreme-event losses that are occurring with increased frequency and intensity.
AIR is the technological leader in providing catastrophe and weather risk modeling services and software (CLASIC/2, CATRADER, CATMAP/2 and AIRProfiler) to insurance, reinsurance and capital markets. AIR’s models simulate losses from natural catastrophes, such as hurricanes, hail, tornadoes, windstorm, floods and earthquakes in more than 40 countries. AIR’s offices are located in Boston, London, San Francisco and Hyderabad, India.
As a wholly owned subsidiary of ISO, AIR will continue to operate as an independent, stand-alone entity and will maintain its offices in Boston, London, San Francisco and Hyderabad, India. Company founder Karen Clark will continue to head AIR as president and CEO.
ISO is a leading source of information, products and services related to property and liability risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting and claims information and analysis; consulting and technical services; policy language; information about specific locations; fraud-identification tools; and data processing. In the United States and around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, and insurance regulators and other government agencies.