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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.
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Verisk (Nasdaq:VRSK) will announce its fiscal Q1 results for the period ending March 31, 2021, on May 4, 2021. The financial details will be available on the Verisk investor website following market close. A live audio webcast will take place on May 5, 2021, at 8:30 a.m. EDT to discuss these results and business highlights. This session will also be accessible via dial-in for both domestic and international participants. Verisk provides data analytics solutions to various industries, including insurance and financial services, boasting a client base that includes over 70% of the Fortune 100 companies.
Hyundai Motor America announces the launch of its new Usage-Based Insurance (UBI) program, enabling drivers to potentially save on auto insurance through personalized pricing based on driving habits, in collaboration with Verisk (Nasdaq: VRSK). The UBI program integrates a Driving Score tool that assesses driving behavior for potential discounts, supporting safe driving practices. The Verisk Data Exchange, with over 240 billion miles of data, facilitates insurers in offering discounts based on driver behavior. This initiative is significant for younger customers and enhances Hyundai's digital services.
FAST, a Verisk business (Nasdaq: VRSK), has successfully launched a new variable annuity product for Pacific Life, supporting Registered Investment Advisors (RIAs). This integration will enhance Pacific Life's business administration and distribution capabilities, marking a significant step in its digital transformation. The partnership aims to speed up product innovation and increase market readiness. Verisk emphasizes its commitment to enabling insurers to rapidly introduce new products through its no-code platform, which enhances flexibility and streamlines operations.
Cogitate Technology Solutions has strengthened its partnership with Verisk to enhance the digital experience of its DigitalEdge platform. The integration will include commercial auto and small commercial data, improving client automation and efficiency through predictive analytics. This partnership marks a significant advancement for insurers, MGAs, and wholesalers, offering an adaptable API framework. Verisk, whose solutions are relied upon by many leading firms, supports this initiative, which aligns with the digital transformation needs in the insurance industry.
Verisk (Nasdaq: VRSK) is acquiring assets from 4C Solutions to enhance its FAST platform, catering to group life insurance carriers. This expansion aims to accelerate digital transformation, addressing the evolving needs of insurers. The integration of 4C’s expertise will enable insurers to efficiently configure products, manage claims, and improve operational efficiency. FAST’s no-code technology promises implementation within months, enhancing customer experience in a sector reliant on outdated systems.
Verisk (Nasdaq: VRSK) has launched VeriskPay, a digital payment solution that enables rapid payments for customers in property insurance, remodeling, and lending sectors. This service integrates with Property Preservation Wizard and utilizes Fiserv's Carat ecosystem to facilitate same-day payouts through various platforms, enhancing customer experience.
Mark Anquillare, COO of Verisk, emphasizes the importance of speed and convenience in payment processes, while Fiserv's Nandan Sheth highlights the role of digital payments in streamlining operations.
AIR Worldwide has launched the Catastrophe Exposure Data Exchange (CEDE) as an open standard to streamline data exchange in the insurance sector. This initiative aims to enhance efficiency and analytics for better risk management. Industry leaders, including Chubb and RenaissanceRe, support this move, recognizing its potential to foster collaboration and innovation among insurance companies. The CEDE format, which builds on AIR's existing open data licenses, promotes interoperability in a competitive marketplace, ultimately improving customer service.
Jornaya, a Verisk business, has unveiled the Consumer Behavior Insider report, providing crucial data on shopping journeys to aid marketers in targeting consumers effectively. With insights drawn from over 400 million consumer journeys monthly, the report details trends in major purchase categories, including insurance, mortgages, and home services. Rich Smith, Chief Marketing Officer, highlights the necessity of timely outreach amid overwhelming marketing messages. The report enables organizations to benchmark industry-level trends and consumer activities while ensuring privacy through secure data collection methods.