American Financial Group to acquire Verikai for $120m.

American Financial Group, an insurance holding company, agreed to acquire Verikai, an insurance technology company, for $120m. “We are thrilled to welcome the Verikai team to AFG. We believe that artificial intelligence and machine learning will continue to have a significant impact on the insurance industry and see Verikai as a thoughtful and effective leader in the use of these technologies. We have been very selective and intentional with our investments in the insurtech space and have enjoyed great success with several strategic relationships. Although we don’t often invest directly in insurtech entities, we found Verikai to be an outstanding opportunity. Verikai will continue to operate as a stand-alone company to serve its insurance clients. We are also pleased that Great American Insurance Group will benefit from Verikai’s predictive risk tool and unique Marketplace solution as it enters the medical stop loss business, with a primary focus on small and underserved risks," Carl Lindner III, AFG Co-CEO.