Welcome to our dedicated page for Verisk Analytics news (Ticker: VRSK), a resource for investors and traders seeking the latest updates and insights on Verisk Analytics stock.
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.
JobNimbus has announced a significant integration with Xactware, enhancing its project management software for contractors. This collaboration allows users to import claims estimate data from Xactware's Xactimate® directly into JobNimbus, thus preventing data-entry errors and improving efficiency. The integration simplifies various processes for contractors, enabling them to convert estimates into work orders and invoices with a single click. Both companies emphasize the importance of innovation to support restoration professionals in managing their workflows effectively.
Verisk (Nasdaq: VRSK) has launched the Cyber Risk Navigator, a sophisticated cyber risk modeling platform aimed at helping insurers understand the financial impact of cyber incidents. This SaaS solution features a comprehensive suite of models to estimate potential insured cyber losses and includes advanced ransomware modeling. Additionally, the platform leverages a Cyber Industry Exposure Database containing data on over 100 million organizations, supporting enhanced risk management decision-making.
Verisk (Nasdaq:VRSK) has launched the EHR Triage Engine Plus, utilizing natural language processing and artificial intelligence to enhance life insurance underwriting. This automated solution can condense lengthy electronic health records into concise 1- to 2-page summaries, improving efficiency for insurers. Developed with input from SCOR, it aims to streamline the underwriting process by providing key risk insights quickly. The technology integrates easily with existing systems, potentially transforming life insurance workflows and enhancing customer experience.
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Verisk (Nasdaq:VRSK) reported first-quarter 2021 results with consolidated revenues of $726.1 million, a 5.3% increase. Net income attributable to Verisk was $168.6 million, down 1.8%. Adjusted EBITDA rose 8.7% to $345.5 million. Diluted EPS decreased 1.0% to $1.03, while diluted adjusted EPS increased 5.1% to $1.23. The company generated $448.7 million in net cash from operations, a 23.7% year-over-year increase. A cash dividend of 29 cents per share was paid, and $100.0 million was used for share repurchases. Verisk highlighted growth in the insurance segment despite challenges from COVID-19.
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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.