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.
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.
Wood Mackenzie has partnered with Quinbrook Infrastructure Partners to enhance its Lens decision intelligence platform, which integrates power and renewables data. This collaboration aims to support organisations in maximizing investment opportunities in clean energy and navigating the energy transition landscape. The Lens Power platform will offer valuable insights into energy asset valuation while addressing complex investment risks. With Quinbrook's expertise in low carbon and renewable infrastructure, this partnership is expected to strengthen both companies' capabilities in the evolving energy sector.
Wood Mackenzie Acquires Roskill
On June 18, 2021, Wood Mackenzie announced its acquisition of Roskill, a leader in metals and materials supply chain intelligence. This acquisition aims to enhance their analytical capabilities in battery raw materials, crucial for the energy transition. Neal Anderson emphasized the strategic importance of this integration. Valerie Purvis will lead the new Global Head of Metals & Mining role, expanding her current duties. The move aligns with global initiatives towards carbon neutrality and aims to improve insights for clients in evolving energy markets.
Verisk (Nasdaq:VRSK) has launched a self-hosted ISO Education Program for insurers, allowing them to integrate over 140 e-learning courses into their own learning management systems. This initiative aims to enhance the training and onboarding of employees amidst a looming talent shortage as half of the insurance workforce is expected to retire in the next 15 years. Enrollment in ISO Education has surged by 78% in the last two years, reflecting its growing importance in workforce development.
Verisk (Nasdaq:VRSK) is hosting the Verisk Vision virtual conference starting June 16, 2021, to explore transformative trends in the U.K. insurance industry. This weekly event is designed for insurance leaders to share insights on InsurTech, risk management, and claims workflows. The conference will feature a keynote from Mark Anquillare, discussing future disruptions in the industry. With over 70% of the FORTUNE 100 relying on Verisk's analytics, the conference aims to foster engagement among professionals as technology shapes the insurance landscape over the next 15 years.