Verisk Analytics Stock Price, News & Analysis

Wood Mackenzie is hosting the North America Power & Renewables Conference on July 27-28 to discuss President Biden’s ambitious climate goals, including a 50% reduction in greenhouse gas emissions by 2030.

The conference will feature executives from the U.S. Department of Energy, Goldman Sachs, and other organizations to explore legislative changes under the CLEAN Future Act, aiming for a clean energy standard that mandates 100% clean electricity by 2035.

Key sessions will include discussions on renewable project finance, decarbonization strategies, and infrastructure needs.

Verisk (Nasdaq:VRSK) will announce its fiscal second quarter results for the period ending June 30, 2021, on August 3, 2021, post-market. A webcast discussing the results will occur on August 4, 2021, at 8:30 a.m. EDT. Interested parties can access the event through the Verisk investor website. Verisk, providing data analytics solutions across various sectors, celebrates its 50th anniversary, serving over 70% of the FORTUNE 100 companies. The company emphasizes its commitment to an inclusive culture and has received certification from Great Place to Work.

Xactware, a Verisk (Nasdaq: VRSK) business, reported significant shifts in property claims processing due to the COVID-19 pandemic and natural disasters in 2020. The report indicates a total of 6.97 million claims resulting in over $68 billion in property losses. Virtual claim inspections surged by 228%, with over 140,000 claims processed digitally. The report provides insights into property insurance trends, reconstruction cost changes, and common material prices, emphasizing the effectiveness of digital tools in adaptation during the pandemic.

Verisk (Nasdaq:VRSK) has launched the LightSpeed Personal Auto Accelerator, enabling auto insurers to provide faster one-step quoting experiences in under two minutes. This solution, validated by Guidewire, uses predictive analytics to offer real-time data on drivers, vehicles, and relevant coverages, enhancing the underwriting process. Key benefits include improved conversion rates, increased customer satisfaction, and reduced fraud risk. Verisk aims to meet rising digital expectations from consumers and streamline the quote process for insurers.

Verisk (Nasdaq: VRSK) has launched the updated DrivingDNA Score, enhancing usage-based insurance (UBI) market entry with a more precise risk assessment. This model distinguishes risk groups with up to a 12 times difference in expected losses and improves segmentation 5.5 times over traditional methods. It utilizes data from the Verisk Data Exchange, enabling insurers to generate risk scores quickly and implement UBI effectively. Additionally, a new Distracted Driving Score feature is offered to enhance performance further.

Verisk (Nasdaq:VRSK) has launched Refinery I/O, a new tool offering daily refinery analytics derived from proprietary data sets. This innovative product delivers over 1,020 data points daily through API, enhancing decision-making for refinery operators and traders. It provides real-time insights into crude oil consumption and refined product outputs, aiming to streamline workflows in volatile oil and gas markets.

AIR Worldwide has updated its U.S. Terrorism Model to better assess damage from conventional bomb blasts. This model calculates property damage, workers’ compensation, and personal injury based on blast size and building characteristics. It features advanced 3D Computational Fluid Dynamics for accurate blast propagation analysis, offering detailed insights into potential losses for insurers. The update is timely, considering ongoing terrorism threats, and incorporates lessons from past incidents, including the Oklahoma City bombing and the Nashville bombing in December 2020.