Insurance Services Office of Jersey City, N.J. has acquired AppIntelligence of Weldon Spring, Mo., for an undisclosed amount, the companies said Monday.
AppIntelligence provides Internet-based products to the mortgage-lending industry used to detect fraud in order to reduce risk. The tools are used in prequalification, processing, underwriting, quality control, quality assurance and compliance. Both companies said customers would not notice any service disruption during the transition.
Leisa Gray, spokeswoman for AppIntelligence, said the company expects only positive changes from the acquisition.
"We plan on taking the relationship with ISO as a catalyst to new growth," she said.
Gray said AppIntelligence has about 60 employees, and all are expected to remain intact after the acquisition. AppIntelligence will remain a stand-along subsidiary of ISO, she said.
Insurance Services Office provides products and services that help measure, manage and reduce risk. It had about 2,700 employees and $485 million in sales in 2003.