Business Combinations, Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Assets and Liabilities Acquired

The Company’s preliminary purchase price allocation to net tangible and intangible assets of ITI Data as of August 1, 2024 is as follows:

Intangible assets	$	10,720
Other assets, net	581
Goodwill	22,035
Total purchase consideration*	$	33,336

* Includes contingent consideration of $7,700 recognized at fair value as of the date of acquisition.

Schedule of Goodwill

The following table sets forth details of changes in goodwill by reportable segment of the Company:

	Insurance		Healthcare		Emerging Business		Analytics		Total
Balance as of January 1, 2024	$	50,035	$	21,872	$	47,001	$	286,731	$	405,639
Acquisition	—		—		—		22,035		22,035
Currency translation adjustments	112		(5)		(118)		—		(11)
Balance as of September 30, 2024	$	50,147	$	21,867	$	46,883	$	308,766	$	427,663

Schedule of Indefinite Lived Intangible Assets

Information regarding the Company’s intangible assets is set forth below:

	As of September 30, 2024						As of December 31, 2023
	Gross Carrying  Amount		Accumulated Amortization		Net  Carrying Amount		Gross Carrying  Amount		Accumulated Amortization		Net  Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	107,350	$	(57,757)	$	49,593	$	99,050	$	(51,085)	$	47,965
Developed technology	3,631		(3,215)		416		3,552		(2,522)		1,030
Trade names and trademarks	1,700		(1,408)		292		1,400		(1,286)		114
Non-compete agreements	300		(210)		90		336		(181)		155
	112,981		(62,590)		50,391		104,338		(55,074)		49,264
Indefinite-lived intangible assets:
Trade names and trademarks	900		—		900		900		—		900
Total intangible assets	$	113,881	$	(62,590)	$	51,291	$	105,238	$	(55,074)	$	50,164

Schedule of Amortization of Intangible Assets

The amortization expense recognized in the unaudited consolidated statements of income was as follows:

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Amortization expense	$	3,449	$	3,157	$	9,606	$	11,510

Schedule of Estimated Future Amortization of Intangible Assets

Estimated future amortization expense related to finite-lived intangible assets as of September 30, 2024 was as follows:

2024 (October 1 - December 31)	$	3,431
2025	12,890
2026	12,548
2027	11,505
2028 and thereafter	10,017
Total	$	50,391