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Verisk SBS welcomes two new hires as it strengthens its Solutions-based approach
15th November 2023
Verisk SBS, a re/insurance software specialist operating in the London and US markets, has announced appointments of Gordon Bathurst as Director of Solutions, Broking, and Chris Spencer as Director of Solutions, Underwriting, effective immediately. Both will be based in London and report to Chief Product Officer Rich Smith. They join Nick ... Read the full article
Verisk estimates industry insured losses from Ciarán between €800mn-€1.3bn
8th November 2023
Industry insured losses due to wind from Winter Storm Ciarán are expected to range between €800 million and €1.3 billion, the majority of which are expected in France, according to Verisk. Windstorm Ciarán (also named Emir by the Free University of Berlin), struck Western Europe on November 1-2, leaving a trail ... Read the full article
Citizens adopts Verisk’s Aerial Imagery Analytics
7th November 2023
Verisk has announced that Citizens Property Insurance Corporation, a not-for-profit insurer in Florida, will adopt its Aerial Imagery Analytics solution to help "provide a more comprehensive view of risks across the state." According to Verisk, it submitted a proposal to provide the service to Citizens, which then evaluated the solution against ... Read the full article
Verisk estimates $3bn-$6bn of industry insured losses from Hurricane Otis
1st November 2023
Global data analytics and technology provider Verisk, estimates industry insured losses to onshore property for Hurricane Otis, the strongest hurricane ever to hit Mexico, will likely fall from MXN 50 billion to MXN 110 billion (~USD 3 billion to 6 billion). The industry loss range, according to Verisk, includes insured estimates ... Read the full article
Verisk posts revenue & net income increases in Q3
1st November 2023
Verisk, a global data analytics and technology provider, has posted an increase in its consolidated and organic constant currency (OCC) revenues, due to strong growth in underwriting and claims within the company's Insurance segment. Consolidated revenues grew 11.1% to $677.6 million. OCC revenues increased 9.4%. Underwriting revenues increased by 8.9% in the ... Read the full article
Verisk launches new climate risk dataset to bolster sustainability and resilience analytics
19th October 2023
Verisk, a prominent global data analytics and technology provider, has expanded its suite of sustainability and resilience analytics with the introduction of a new Climate Risk Dataset. This dataset, developed by Verisk Maplecroft, the company's risk intelligence business, offers powerful geospatial insights into one of the most pressing challenges confronting global ... Read the full article
Verisk makes two new hires to drive growth in the UK insurance market
3rd October 2023
Global data analytics and technology provider, Verisk, has made two new hires within UK sales and business development, as part of the firm's international insurance market growth strategy. The company has appointed Robert Stewart as Director of Business Development at Verisk Underwriting Solutions, and Neil Garrett as Sales Director. In his new role ... Read the full article
Verisk revolutionises ISO Businessowners program to meet evolving business risks
29th September 2023
Verisk, a global data analytics and technology provider, has unveiled a substantial update to its ISO Businessowners (BOP) program, aiming to assist insurers in adapting to the dynamic landscape of contemporary business risks. As businesses continue to evolve in response to economic and technological shifts, this enhancement to the ISO BOP ... Read the full article
Insurance industry faces record annual nat cat losses of $133 billion: Verisk
8th September 2023
The global insurance industry is grappling with an unprecedented challenge as the annual average loss from natural catastrophes reaches a staggering $133 billion, according to the latest findings from Verisk's extreme event solutions models. These figures, unveiled in the 2023 Global Modeled Catastrophe Losses Report, highlight a concerning trend of escalating ... Read the full article
Political violence insurers to benefit from Verisk’s first-of-kind predictive SRCC data model
7th September 2023
Verisk has launched a new predictive strikes, riots, and civil commotion (SRCC) data model developed for political violence underwriters, exposure analysts, modellers, and specialty reinsurers as part of the Lloyd’s Lab accelerator programme. Released by Verisk Maplecroft, the risk intelligence business of the data analytics provider, the SRCC Predictive Model provides ... Read the full article
Verisk estimates Hurricane Idalia’s insured losses to range from $2.5bn to $4bn
4th September 2023
Global data analytics and technology provider Verisk has estimated insured losses of $2.5 billion to $4 billion for Hurricane Idalia, a Category 3 hurricane that struck Florida on August 30. The significant majority of these losses can be attributed to wind damage, with Verisk's estimates factoring in both wind and insured ... Read the full article
Verisk introduces new IT system to curb insurance fraud in Israel
1st September 2023
Global data analytics and technology provider, Verisk, has launched its new ClaimSearch system in Israel. Developed in collaboration with the Israel Insurance Association and with the backing of the government, this state-of-the-art, cloud-based system aims to revolutionize the fight against insurance fraud in the country. The new system will leverage advanced ... Read the full article
Verisk reports revenue and net income increase in Q2 2023
3rd August 2023
Insurance and analytics provider Verisk, has reported an increase in its consolidated and organic constant currency (OCC) revenues, primarily due to strong growth in underwriting and claims within its insurance segment. Consolidated revenues grew 10.1%, to $675.0 million. This includes $478.1 million from underwriting and $196.9 million from claims which compare ... Read the full article
Abou-Jaoudé to lead Verisk’s Claims Solutions in Continental Europe
18th July 2023
Data analytics and technology provider, Verisk, has announced that Samer Abou-Jaoudé will lead the company’s Claims Solutions business in Continental Europe as Managing Director. Abou-Jaoudé will be taking over the role from Olav Skowronnek who is stepping down from Verisk as of July 31, 2023. Skowronnek joined Verisk late in 2021 when ... Read the full article
Verisk hires Samantha Vaughan as Chief Privacy Officer
14th July 2023
Global data analytics and technology provider Verisk has appointed Samantha Vaughan as Chief Privacy Officer, effective immediately. In her new role, Vaughn will lead the development and implementation of policies to protect the data entrusted to Verisk, At the same time, she also help ensure the integrity of Verisk’s data practices, ... Read the full article