ChoicePoint Buys Insuratec Inc.
For the second time in a week, ChoicePoint Inc. has made an acquisition that will increase its footprint in the insurance industry.
Alpharetta, GA-based ChoicePoint Inc. has bought Insuratec Inc., for an undisclosed sum. The transaction is not expected to have a material impact on ChoicePoint's financial results.
Danville, CA-based Insuratec provides lien holder and mortgagee notification services to the property and casualty insurance industry. Insuratec notifies automobile finance companies and mortgage lenders, on behalf of insurance clients, of material changes to insurance policies.
On July 13, ChoicePoint bought Torrance, Calif.-based ePolicy, which provides administration software for commercial insurance carriers.
The Insuratec acquisition expands ChoicePoint's Financial Institution Reporting System service, created with the February acquisition of Elios Inc.