Verisk Analytics Stock Price, News & Analysis

Verisk's Xactware solutions enhance claims processing efficiency for the Louisiana Insurance Guaranty Association (LIGA) amid insurer insolvencies.

Utilizing Xactimate® and XactAnalysis®, LIGA improves claims assignment and communication with independent adjusters, essential for aiding hurricane victims in rebuilding efforts.

Verisk supports LIGA's mission with technology that streamlines the claims journey, benefiting both policyholders and the overall insurance market in Louisiana.

Verisk (Nasdaq: VRSK) reported its Q2 2022 financial results with consolidated revenues of $746.3 million, a slight decline of 0.2%, but up 5.3% on an organic constant currency (OCC) basis. Net income soared 28.4% to $197.7 million, and diluted EPS rose 31.9% to $1.24. Adjusted EBITDA increased 2.7% to $380.8 million, with a 4.4% rise on an OCC basis. However, cash flow dipped significantly, with operating cash down 44.2% to $130.2 million and free cash flow down 64.3% to $61.0 million. The board approved a dividend of 31 cents per share.

Mountain West Farm Bureau Insurance has adopted Verisk's 360Value tool to enhance property reconstruction cost estimates (RCEs) amid rising inflation and supply chain challenges. This partnership aims to provide updated coverage levels for customers, utilizing localized data on material and labor costs

and actual claim experiences. The integration streamlines underwriting processes, ensuring that agents can accurately assess risks associated with residential, commercial, and agricultural properties.

Verisk (Nasdaq: VRSK) has appointed Elizabeth Mann as the new executive vice president and chief financial officer, effective September 15, 2022. Mann joins Verisk from S&P Global, bringing extensive experience in finance, including a CFO role in multiple divisions. CEO Lee Shavel expressed enthusiasm for Mann's leadership capabilities and her role in supporting Verisk's long-term growth and financial performance. The CFO position was previously held by David Grover in an interim capacity following Shavel's appointment as CEO in May.

Verisk (Nasdaq: VRSK) will announce its fiscal second-quarter financial results for the period ending June 30, 2022, on August 2, 2022, after market close. Investors can access the press release and financial data on the Verisk investor website. The management team will present a live audio webcast to discuss these results and business insights on August 3, 2022, at 8:30 a.m. EST. A replay will be available for 30 days post-event. Verisk specializes in data-driven analytics for the insurance and energy sectors, focusing on operational efficiency and informed decision-making.

Wood Mackenzie, a Verisk business (Nasdaq: VRSK), and Ball Corporation (NYSE: BALL) have launched the Global LNG Liquefaction Monitoring product. This innovative tool offers near real-time market intelligence on liquefaction train statuses, combining satellite analytics and ground-based monitoring. The product aims to address increased liquefaction plant outages, providing crucial data to help clients adapt to market fluctuations and identify trading opportunities. The collaboration highlights both companies' commitment to leveraging advanced analytics in the global LNG market.

Buckle announced that Scott Stephenson, former CEO of Verisk, joined its Board of Directors as chairman on July 1, 2022. With a track record of innovation and success at Verisk, Stephenson aims to bolster Buckle's growth in financial services for the gig economy and rising middle class. Under his leadership, Verisk's revenues doubled, and it was recognized as one of the world's most innovative companies. Buckle serves the gig economy by providing specialized insurance for rideshare and delivery drivers from major platforms such as Uber and DoorDash.

Verisk's Property Claims Solutions Adopted by AFR Insurance

American Farmers & Ranchers Mutual Insurance Company (AFR Insurance) has integrated Verisk’s property claims-handling solutions to enhance claims processing. This implementation will enable AFR to more efficiently assign and settle property claims while analyzing performance and severe weather insights. Darin Miller, AFR's Director of Claims, emphasized Verisk's solutions' superior functionality. Verisk aims to improve underwriting and claims outcomes, contributing to operational efficiency and fraud prevention within the insurance industry.