Verisk Analytics - VRSK STOCK NEWS

Pelmorex Corp. announces the appointment of Dr. Nana Banerjee as President and CEO, effective later this month. Dr. Banerjee, who also joins the company’s Board of Directors, has extensive experience in leading global companies, including his previous roles as CEO of McGraw-Hill and Group President at Verisk (NASDAQ: VRSK). Executive Chair Pierre L. Morrissette expressed confidence in Dr. Banerjee's vision and leadership skills, which align with the company’s values. Dr. Banerjee holds a Ph.D. in Applied Mathematics and aims to drive innovation at Pelmorex, focusing on utilizing advanced technology and AI algorithms for weather analytics. Pelmorex is recognized as a leading provider of weather information services.

Peace Hills General Insurance Company, a prominent insurer in Western Canada, is upgrading its claims workflow through Verisk's Xactimate and XactAnalysis solutions. This enhancement, announced on April 19, 2023, aims to streamline property damage assessments and improve claim processing efficiency. By utilizing Xactimate, Peace Hills can rapidly capture and review damage estimates, while XactAnalysis facilitates assignment tracking, claim status updates, and oversight of contractors. Key benefits include compliance assurance, error auditing, comprehensive documentation, performance monitoring, and real-time reporting. The partnership supports Peace Hills' commitment to exceptional customer service and aims to further enhance the client experience.

On April 13, 2023, Verisk (Nasdaq: VRSK) announced the promotions of Carrie Barr and Aaron Brunko to president roles within its Claims Solutions group. Barr, previously an account executive, will lead Casualty Solutions, focusing on enhancing client efficiencies through automation and compliance solutions. Brunko, who joined Verisk as a tech support agent, will head Property Estimating Solutions, prioritizing innovation and partnerships to improve workflows. President of Claims Solutions, Maroun Mourad, expressed confidence in their leadership to boost client support and strengthen Verisk's position in the global insurance industry. Verisk continues to empower insurance clients with data analytics and technology solutions, addressing operational efficiency and risk management.

Verisk (Nasdaq: VRSK) announced it will release its fiscal first quarter financial results for the period ending March 31, 2023, on May 3, 2023, prior to market opening. Investors can access the press release and financial information via the Verisk investor website. An audio webcast is scheduled for the same day at 8:30 a.m. ET, allowing stakeholders to discuss the results and business highlights. Participants can join via the investor website or dial-in numbers provided for U.S./Canada and international listeners. A replay of the audio webcast will be available for 30 days post-event. Verisk continues to position itself as a strategic partner in data analytics for the global insurance industry, focusing on improving operational efficiency and decision-making regarding various risks.

Verisk’s Rating-as-a-Service (RaaS) offers insurers a cloud-based solution to efficiently implement updated ISO loss costs and coverage rules for new commercial lines products. Announced on April 11, 2023, this innovative rating engine simplifies the complex process of product development by allowing insurers to send rating inputs via API. This generates quotable premiums using Verisk’s advanced algorithms, improving speed, efficiency, and cost-effectiveness in insurance pricing.

RaaS supports various insurance products, including businessowners, general liability, and workers' compensation, enabling customization and integration with Verisk’s other solutions. The RaaS solution aims to enhance operational performance in an increasingly dynamic insurance market.

Verisk (Nasdaq: VRSK) has released its annual Corporate Social Responsibility Report for 2022, highlighting its commitment to sustainability and growth within an ESG framework. CEO Lee Shavel emphasizes the critical role of the insurance industry in the economy. Key report highlights include: 1. Purpose-Driven Work showcasing social impact initiatives; 2. Environmental Stewardship detailing climate action efforts; 3. Culture of Inclusion recognized by Great Place to Work; and 4. Corporate Giving through a multi-tiered engagement approach. For full details, the report is accessible here.

Verisk (Nasdaq: VRSK) has appointed Chris Sawford as managing director of claims in the UK as of April 6, 2023. His role emphasizes enhancing automation and efficiency for insurer claims teams amid ongoing inflation and supply chain challenges. Sawford is co-founder of Validus-IVC, acquired by Verisk in 2018. Under his leadership, Verisk aims to drive operational efficiency and digital transformation across the insurance sector. The organization has expanded its capabilities through acquisitions, including leading insurtech firms. These innovations support a variety of claims processes, addressing operational challenges that insurers face. Verisk has also been recognized for excellence in risk management at the UK & Europe 2023 Awards.

Verisk (Nasdaq: VRSK), a premier data analytics provider, has successfully increased participation in its ISO Statistical Database, adding over 100 property and casualty insurers in the past three years. This expansion will enhance the database by more than 25%, which currently holds over 32 billion records of premiums and losses. These data enhancements are essential for insurers, improving their decision-making in critical areas such as ratemaking and product development. Verisk’s recent updates to statistical services include flexible data formats and automated quality controls, making it easier for insurers to contribute valuable data.