Actuarial consultancy Finity has purchased Sydney-based artificial intelligence (AI) analytics firm Deep Logic for an undisclosed sum.

Finity says the acquisition will strengthen its product offerings and expertise in the AI and machine learning space, which is an area of growing interest to insurers.

A number of Deep Logic-developed products are used by insurers in the UK and the US.

“This is an exciting acquisition for Finity that brings an impressive array of the highest-level skills available in data science, analytics and software product development to our business,” MD Scott Collings said.

“Deep Logic’s team strengthens our ability to further add value to our clients’ businesses.”