Welcome to our dedicated page for Verisk Analytics news (Ticker: VRSK), a resource for investors and traders seeking the latest updates and insights on Verisk Analytics stock.
Verisk Analytics provides data analytics, software and technology for the global insurance industry, with recurring updates tied to underwriting, claims, policy administration, fraud detection and risk intelligence. Company news often covers insurance workflow products such as Verisk Ignite for policy management, Xactimate for property claims estimating and ClaimSearch-based claims trend analysis.
Verisk also reports developments in AI-enabled insurance analytics, product integrations with insurance and restoration platforms, property-and-casualty industry research, quarterly financial results, dividends, share repurchases and financing activity. Its releases frequently connect proprietary insurance datasets with underwriting outcomes, claims efficiency, catastrophe risk, climate risk and other global risk topics.
Summary not available.
M Financial Group and Pacific Life have launched a new flexible-premium survivorship variable universal life (SVUL) insurance policy designed for high-net-worth individuals. This policy leverages Verisk’s FAST platform and includes pre-configured tax rules to simplify estate planning. The SVUL policy offers investment options with no surrender charge and an optional no-lapse guarantee. This innovation aims to address the challenges posed by tax laws for affluent clients, while further developments with M Financial's M Vision platform are anticipated.
VYRD, a new homeowners insurer, is transforming the Florida insurance market by utilizing data from Verisk (Nasdaq: VRSK) to enhance underwriting processes. With the LightSpeed® platform, VYRD offers faster and more reliable quotes by leveraging advanced data analytics, including location-based peril information and loss history. Targeting homeowners facing coverage challenges, VYRD aims to meet the unique demands of Florida's volatile market, driven by frequent catastrophe losses and legal complexities surrounding claims.
Summary not available.
JERSEY CITY, N.J., Aug. 18, 2022 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK) has appointed Olumide Soroye as an independent director on its Board, effective immediately. Soroye brings 30 years of experience in software, data analytics, and leadership from roles at Fortive Corporation, CoreLogic, and McKinsey & Company. CEO Lee Shavel expressed confidence in Soroye's ability to add value, while chairperson Bruce Hansen noted the strengthening of the board with this addition at a crucial growth phase for Verisk.
Verisk (Nasdaq: VRSK) has renewed its strategic partnership with the National Insurance Crime Bureau (NICB) to enhance efforts against organized insurance fraud. This collaboration, dating back to 1998, provides integrated access to data and tools that protect insurance companies and their clients from fraud. Mutual clients will benefit from services such as the ability to refer suspicious claims and receive automated alerts. Both organizations emphasize the importance of data analytics and technology in proactively addressing insurance crime.
Verisk's consumer identity management business, Infutor, has been named the winner of the Best Contact Database Company award at the annual MarTech Breakthrough Awards.
Infutor, acquired by Verisk earlier in 2022, integrates with Jornaya and Contact State to form Verisk Marketing Solutions. This enables enhanced consumer data access for brands and marketing teams.
Infutor provides real-time consumer profiles with over 100 million daily updates sourced from compliant data, aiming to support insurers and financial institutions in their marketing efforts.
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.