TransUnion (NYSE: TRU) announced that it is continuing to build upon its success as a trusted source for data solutions within the insurance market with the acquisition of Datalink Services, Inc. d/b/a Compass Driving Records, a nationwide provider of vehicle and driving records.
Datalink Services, Inc. offers nationwide driving and vehicle records, as well as driver pre-screening services. The addition of Datalink Services, Inc. to TransUnion’s DriverRisk solution will enable the company to provide the insurance industry with a full driving record platform. In addition, Datalink Services, Inc. supports the needs of other industries that meet Drivers Privacy Protection Act (DPPA) requirements
“TransUnion is dedicated to finding innovative ways information can be used to help businesses and consumers make smarter decisions,” said Chris Cartwright, president of TransUnion’s USIS division. “Datalink Services, Inc. is a strong addition to TransUnion’s insurance business and will benefit our customers by contributing to a robust set of data solutions, further enhancing our competitive strength and market value proposition.”
Access to holistic knowledge about a consumer’s driving behavior, including motor vehicle offenses, helps insurers determine the likelihood of future claims, and assists other industries in screening employees who will operate vehicles safely.
“Together, TransUnion and Datalink Services, Inc. create a powerful combination of data intelligence,” said Mark McElroy executive vice president and head of TransUnion’s insurance business unit. “Through the acquisition, we will help insurance carriers affordably review drivers and help them accurately price and underwrite policies.”
“Joining TransUnion is a great next step for Datalink Services, Inc.,” said Mark Haddy, of Datalink Services. “TransUnion has a rich history of helping insurance carriers improve policy pricing and underwriting decisions, and this industry knowledge will be critical in helping Datalink Services, Inc. grow our part of the insurance business.”
The acquisition closed on August 18, and financial terms were not disclosed.
About Datalink Services, Inc. d/b/a
Compass Driving Records Since 2001, Datalink Services, Inc. has been providing driving and vehicle records to the insurance industry. Their trademarked products, SmartMVR and SmartVR, provide real-time data and records from DMVs across the nation to help insurance carriers improve business efficiency and manage risk. Datalink Services, Inc.’s DMV reporting services also benefit a variety of non-insurance related markets including financial institutions, employment screening, and litigation. Datalink Services, Inc.’s access to DMV records and other vehicle information in all 50 states delivers the most cost-effective and comprehensive information available.