Verisk Analytics, Inc. - VRSK STOCK NEWS

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.

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.