Verisk Analytics Stock Price, News & Analysis

Verisk (Nasdaq: VRSK) has announced that Nationwide has joined its Cyber Data Exchange, enhancing the insurance industry's understanding of cyber risk. Nationwide will contribute premium and loss records to aggregate data while gaining access to analytics tools for better risk management and product development. This initiative aims to tackle challenges related to cyber exposure, improve pricing, and bolster solutions for consumers and businesses. By collaborating with leading insurers like Nationwide, Verisk enhances its marketplace intelligence on cyber insurance.

Verisk (NASDAQ: VRSK) has been recognized as a Great Place to Work for the fifth consecutive year, reflecting its strong workplace culture driven by core values of service, value addition, and innovation. Approximately 90% of employees reported a positive experience, supporting the company’s commitment to fostering a high-trust environment. Verisk's global operations span over 30 locations, focusing on data analytics for insurance, energy, and financial services. The company is also engaged in sustainability efforts, including a commitment to carbon neutrality and initiatives aimed at supporting employee well-being during COVID-19.

Verisk (Nasdaq: VRSK) has entered an exclusive partnership with BlueVoyant, enhancing its Cyber Solutions Suite with advanced cybersecurity data and analytics. This collaboration allows Verisk to provide insurers with real-time insights into cyber risks affecting their clients. By integrating BlueVoyant's monitoring technology, insurers can better understand and model risk exposures. Verisk's suite leverages data from over 100 million businesses to offer comprehensive analytics on underwriting and risk management in the rapidly evolving cyber insurance sector.

Verisk (VRSK) has strengthened its partnership with Medallia to enhance customer experience through advanced analytics. This collaboration allows Verisk access to Medallia's customer and employee engagement solutions, enabling faster insights into customer trends. CEO Scott Stephenson emphasized the 'customer first' approach, aiming for continual product innovation driven by user feedback. This strategy aims to improve customer value and loyalty, which is crucial in today's market.

AIR Worldwide has released its 2020 Global Modeled Catastrophe Losses report, estimating that global modeled insured average annual losses from catastrophes are nearly USD 100 billion. The report highlights a 301 billion USD expected loss for a 100-year return period event. Enhanced risk assessments and models, including updates for earthquake and hurricane metrics, inform a broader understanding of the protection gap. This gap presents growth opportunities for the insurance sector and underscores the need for robust risk management strategies.

Verisk (Nasdaq: VRSK) has partnered with WOMBA to develop an EHR Triage Engine utilizing consumer-authorized electronic health record data. This innovation aims to enhance life insurance underwriting by reducing decision time from weeks to one minute through advanced predictive analytics. The EHR Triage Engine can evaluate 95,000 impairments in under five minutes, potentially qualifying up to 85% of applicants with minimal underwriter review. This initiative responds to the growing demand for quick, secure, and convenient digital solutions in underwriting, particularly in the post-pandemic landscape.

Verisk (Nasdaq:VRSK) reported a 7.6% increase in consolidated revenues to $703 million for Q3 2020, with a 466% surge in net income reaching $186 million. Adjusted EBITDA rose 18.4% to $366 million, while diluted EPS skyrocketed to $1.12, a 460% increase. However, net cash from operations declined 3.0% to $207 million, and free cash flow fell 6.9% to $142 million. A cash dividend of 27 cents was declared for December 31, 2020, and share repurchases totaled $50 million in Q3.