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) has launched the Mitigate website, offering fire departments across the U.S. complimentary access to advanced analytics and visualization tools. This platform provides vital data to help communities benchmark their Public Protection Classification (PPC) scores, facilitating informed decisions about fire safety investments. Features include a PPC dashboard for performance insights, interactive maps for fire protection area analysis, and educational resources for ongoing training. The Mitigate platform aims to enhance local fire safety and potentially reduce community insurance costs.
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Verisk (Nasdaq: VRSK) has introduced a new delivery model that enhances the purchase experience for usage-based insurance (UBI) for connected cars. Utilizing telematics data from the Verisk Data Exchange and underwriting data from LightSpeed Auto, insurers can now streamline the UBI buying process. This integration provides real-time data on drivers and vehicles, improving quote throughput and customer experience without upfront driving observation periods. The solution aims to boost efficiency, combat underwriting fraud, and foster profitable growth in the insurance sector.
NTT DATA Services is collaborating with FAST, a Verisk company, to enhance digital Third-Party Administration (TPA) and Business Processing as a Service (BPaaS) for the insurance and annuity sectors. This partnership will utilize FAST’s microservices-based platform to boost efficiency, innovation, and customer experience for life insurers. NTT DATA aims to streamline back-office operations and facilitate rapid product launches. Key features include flexible operations, direct access for insurers, and regular platform upgrades to support evolving market needs.
Verisk (Nasdaq: VRSK) has announced its acquisition of Jornaya, a leader in consumer behavioral data. This strategic move aims to enhance Verisk's marketing solutions for the insurance and financial services sectors, enabling clients to engage customers more effectively based on behavioral insights. With this acquisition, Verisk intends to improve customer acquisition and retention through tailored marketing strategies. The transaction will proceed subject to customary closing conditions.
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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.