As per FF News, the relocation would facilitate the company's enhancement of its competencies in the insurance domain, particularly in the areas of analytics and underwriting assistance.

Additionally, it will improve its capacity to offer MGAs and commercial carriers inspection and data analytics solutions.

As a result of this transaction, Xceedance is expanding its network of over 1,300 inspectors nationwide and hiring close to 200 additional team members. While the precise amount of the transaction has not been made public, it is expected to greatly expand Xceedance's service portfolio.

Over a million residential, business, and farm inspections are carried out yearly by Millennium Information Services, which specializes in data analytics and property inspections. The company uses its exclusive MAPS® software platform, which facilitates decision-making, workflow management, and data analytics, to collaborate with more than 80 insurance carriers and MGAs.

Since the company has amassed hundreds of millions of data points on property dangers, its data will be essential for industry innovation in the future.

"Pairing our deep insurance operational expertise with Millennium's inspection capabilities and MAPS® platform creates the most powerful, analytics-driven offering in the market," said Xceedance CEO Arun Balakrishnan, expressing his excitement about the merger. More than 200 clients will now be served by our merged workforce across the Americas. We can't wait to inform our clients about the advantages of having access to more real-time data and analysis when assessing property hazards.

"At Millennium, we're focused on changing both the way property inspections are done and the value garnered by our clients of the data gathered by leveraging technology, as well as developing new ways to use historical and predictive inspection information for better risk management," said Scott Dismeier, president of Millennium Information Services, echoing this enthusiasm. Everything instantly rises to a new level when you join the Xceedance team.

"Carriers are facing daunting challenges as property risks evolve," said Peter Flynn, head of personal lines at Xceedance. "We see the results in recent years in market volatility." Our team has a fantastic potential to enable underwriters to make risk-level decisions with confidence and to assist customers in better understanding portfolio patterns. We are delighted to have the Millennium crew join Xceedance.