American Family Insurance has purchased Networked Insights, a Chicago data analytics software firm that scrapes social media to find out what people are saying online in their blogs, tweets and reviews and uses the data to advise companies on marketing strategy and product innovation.

Madison-based American Family has “significantly invested” in technology platforms and analytics in the past three years, CEO and chairman Jack Salzwedel said, and the purchase of Networked Insights will strengthen its use of data, advanced analytics and artificial intelligence.

The transaction was finalized Thursday; terms of the deal were not disclosed. Read the full story here.