UK Insurers Gain Insight into Carbon Footprint of Claims with New Verisk Calculator

Rhea-AI Summary

Verisk (Nasdaq: VRSK) has launched the UK insurance industry's first Carbon Trust Assured Model for property claims - the Verisk Property Claims Carbon Calculator. This innovative tool enables insurers to measure and reduce the carbon footprint of their claims, supporting Scope 3 emissions reporting compliance.

The calculator, developed with the Carbon Trust, is assured against ISO 14064-3:2019, PAS 2050, and GHG Protocol standards. It incorporates over 2,000 construction sector emission factors and Environmental Product Declarations, combined with Verisk's buildings repair pricing data and claims intelligence.

This solution helps insurers track emissions at the claim level, benchmark performance, and identify carbon reduction opportunities in property repairs, addressing the Association of British Insurers' call for Net Zero targets covering Scopes 1, 2, and 3 by 2025.

Positive

• First-to-market Carbon Trust Assured Model for property claims emissions tracking
• Integration of over 2,000 construction sector emission factors and Environmental Product Declarations
• Tool available as standalone solution to broader market, demonstrating industry leadership
• Addresses growing regulatory and industry demands for Scope 3 emissions reporting

Negative

• None.

News Market Reaction – VRSK

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+0.60% News Effect

On the day this news was published, VRSK gained 0.60%, reflecting a mild positive market reaction.

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The Carbon Trust assures Verisk tool delivering industry-first emissions tracking for property claims

London, UK, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading data and analytics provider to the global insurance industry, has announced the launch of the insurance industry’s first Carbon Trust Assured Model for property claims in the UK. The new Verisk Property Claims Carbon Calculator empowers insurers to accurately measure, benchmark and strategise to reduce the carbon footprint for their claims. The innovative new tool supports compliance with Scope 3 emissions reporting and advances sustainability leadership across the sector, and Verisk is making it available to its clients and the broader market.

Developed in collaboration with the Carbon Trust, the calculator is designed to meet the growing demand for transparent, data-driven sustainability solutions in the insurance and property repair ecosystem. The model is assured against ISO 14064-3:2019, PAS 2050, and GHG Protocol standards, and leverages more than 2,000 construction sector emission factors and Environmental Product Declarations (EPDs) from the Carbon Trust, alongside Verisk’s market-leading buildings repair pricing data and claims intelligence.

“Insurers have long struggled to quantify the carbon impact of property claims, particularly Scope 3 emissions,” said Ben Blain, head of property for Verisk Claims UK. “Our new calculator replaces assumptions with assured insight—giving insurers the confidence to act on emissions data, meet compliance targets, and lead the way in sustainable claims management. In the spirit of shared responsibility and progress, we are also making this tool available as a standalone solution—because driving sustainability forward is something we all have a stake in.”

The Verisk Property Claims Carbon Calculator delivers insights through dashboard reporting and retrospective benchmarking. The calculator enables insurers, third party administrators (TPA), managing general agents (MGA), and suppliers or contractors to track emissions at the insurance claim level, benchmark performance across suppliers and time periods, and identify opportunities for carbon reduction when carrying out property repairs.

“We’re proud to partner with Verisk on this pioneering solution,” said Bob Burgoyne, director, The Carbon Trust. “This assured model reflects our shared commitment to accelerating the transition to a low-carbon economy and will help to equip insurers in the UK with the tools they need to meet their sustainability goals.”

In addition to regulatory pressures for Scope 3 emissions in ESG disclosures, The Association of British Insurers (ABI) has called for firms to urgently review their disclosures and have Net Zero targets covering Scopes 1, 2, and 3 by 2025. Verisk’s solution provides a timely and practical response to this challenge.

Verisk is advancing sustainable business practices through data-driven innovation and global risk intelligence. By integrating geospatial analytics and climate science—most recently via a nature risk assessment across its global offices—Verisk is helping clients navigate biodiversity, water stress, and climate transition risks. These insights empower stakeholders to make confident, informed decisions in the face of environmental challenges.

About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.

About the Carbon Trust
The Carbon Trust is a global climate consultancy driven by the mission to accelerate the move to a decarbonised future. Climate pioneers for over 20 years, it partners with businesses, governments and financial institutions to drive positive climate action. From strategic planning and target setting to activation and communication - it turns ambition into impact. To date, its 400 experts have helped set 200+ science-based targets and guided 3,000+ organisations and cities across five continents on their route to Net Zero.

Mary Keller
Verisk
339-832-7048
mary.keller@verisk.com

FAQ

What is the Verisk Property Claims Carbon Calculator and how does it work?

The Verisk Property Claims Carbon Calculator is a Carbon Trust Assured Model that helps insurers measure and reduce their claims' carbon footprint. It uses over 2,000 construction sector emission factors and Environmental Product Declarations to track emissions at the claim level.

How does Verisk's new calculator help insurance companies with emissions reporting?

The calculator helps insurers track and report Scope 3 emissions, benchmark performance across suppliers and time periods, and identify carbon reduction opportunities in property repairs, supporting compliance with regulatory requirements and sustainability goals.

What standards is the Verisk (VRSK) carbon calculator assured against?

The calculator is assured against ISO 14064-3:2019, PAS 2050, and GHG Protocol standards, ensuring reliable and standardized emissions tracking for property claims.

Who can use Verisk's Property Claims Carbon Calculator?

The calculator is available to insurers, third party administrators (TPA), managing general agents (MGA), and suppliers or contractors as a standalone solution for tracking and reducing emissions in property claims.

Why is Verisk's carbon calculator significant for UK insurers?

It addresses the Association of British Insurers' requirement for firms to have Net Zero targets covering Scopes 1, 2, and 3 by 2025, and provides the first assured model for measuring property claims' carbon footprint in the UK insurance industry.