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Verisk bolsters anti-fraud claims solution with AI powered image forensics
16th June 2023
Global data analytics and technology provider Verisk is expanding its anti-fraud claims solution with artificial intelligence that will enable insurers to identify potential fraud in claims photos with "lightning speed and laser precision." "Drawing on millions of claims images in Verisk’s databases, including the loss history database ClaimSearch, the image forensics ... Read the full article
Italy floods highlight major protection gap, says Verisk
15th June 2023
Only a small percentage of damage to insured assets caused by May floods in Italy will be covered as the majority of risks in the Italian insurance market do not cover flood, Verisk has revealed in a recent report. The major floods events in Italy were caused by a pair of ... Read the full article
Verisk acquires Morning Data to bolster solutions for brokers & MGAs
30th May 2023
Verisk a global data analytics and technology provider, has announced that it has acquired Morning Data, a supplier of state-of-the-art software to brokers and managing general agents in London and across the globe. This acquisition enables Verisk to enhance and expand its solutions for straight-through processing and distribution to the growing ... Read the full article
Verisk appoints new senior leaders for PCS
25th May 2023
Verisk has announced that Ted Gregory and Alex Mican will be assuming new leadership roles in the PCS business unit of the organization. Mican and Gregory are both market veterans each having a decade's worth of experience at Verisk. They have also driven many of PCS’s most important innovations during this period, ... Read the full article
Verisk partners with CCC to bring innovations to P&C insurance claims
9th May 2023
Insurance and analytics provider Verisk, and CCC Intelligent Solutions Inc. (CCC) a leading cloud platform for the property & casualty (P&C) insurance economy, have announced a strategic partnership to leverage the two providers’ market-leading technologies to bring new innovations to P&C claims. The first project that has been announced through the ... Read the full article
Verisk grows insurance segment revenue by 11% in Q1
3rd May 2023
Insurance and analytics provider Verisk has reported marginally higher revenues of $651.6 million for the first quarter of 2023, aided by revenue growth of 11.1% within its insurance segment, including growth of 9.8% on an organic constant currency (OCC) basis. The company attributed the “modest” 1.2% growth in its overall revenues ... Read the full article
Verisk launches XactXpert to automate, accelerate property claims estimates review
28th April 2023
Global data analytics and technology provider Verisk launched XactXpert, a new rules engine in its Xactimate property estimating solution that enables property insurers to automate and speed up the review of property estimates from days to minutes. By integrating customized claim estimation guidelines into their digital workflows, insurers can use XactXpert ... Read the full article
Verisk acquires German InsurTech SV Krug
26th April 2023
Global data analytics and technology provider Verisk has announced that it has acquired Krug Sachverständigen GmbH (SV Krug), a Germany-based motor claims solutions provider. The acquisition expands Verisk’s claims and casualty offerings across Europe. Founded in 1982, SV Krug offers highly digitalised solutions that help insurers and car manufacturers to achieve better ... Read the full article
Verisk’s Actineo announces Verena Klumb as its new leader
20th April 2023
Verena Klumb has been announced as the new leader of Actineo, a Verisk business, as of April 01, 2023. Klumb is a banker and marketing and communications economist, who has been leading operations and administration as part of the executive management team since 2015. Actineo is ... Read the full article
Barr and Brunko to lead Verisk’s Claims businesses
13th April 2023
Global data analytics and technology provider Verisk has announced the promotion of Carrie Barr and Aaron Brunko to lead the company’s growing Claims businesses. These appointments, according to Maroun Mourad, president of Verisk Claims Solutions, will further enhance the support offered to clients and help strengthen Verisk’s role as a strategic ... Read the full article
Verisk releases new rating engine for commercial lines offerings
12th April 2023
Global data analytics and technology provider, Verisk has unveiled a new rating engine that it says allows for insurers to transform the complex process of developing new commercial lines products. The firm's new cloud-based rating engine, known as Rating-as-a-Service (RaaS), offers a streamlined process, and will save insurance companies valuable time ... Read the full article
Sawford becomes Verisk UK Managing Director of Claims
11th April 2023
Verisk, a global data analytics and technology provider, has named Chris Sawford Managing Director of Claims for the United Kingdom. Sawford will lead strategic initiatives that can help insurer claims teams boost automation, increase efficiency and contain costs as they continue to face persistently high inflation and supply chain disruption. He co-founded ... Read the full article
Underwriting losses up as P&C income shrinks: Verisk & APCIA
30th March 2023
New data from Verisk and the American Property Casualty Insurance Association (APCIA) shows that key financial results for the US property and casualty (P&C) market significantly worsened in 2022, as its overall underwriting loss reached $26.9 billion. At this level, the underwriting loss was more than six times the $3.8 billion ... Read the full article
Verisk sees rise in net income from continuing operations in Q4
1st March 2023
Insurance and analytics provider Verisk has reported income from continuing operations of $215.8 million for the fourth quarter of 2022, a rise of more than 82% from the $118.3 million reported a year earlier. Verisk attributes the year-on-year rise in net income from continuing operations to an impairment loss incurred in ... Read the full article
Just ~5% of $20bn+ in economic losses from Turkey quakes to fall to re/insurers: Verisk
14th February 2023
The devastating M7+ earthquakes that occurred in Turkey on February 6th, 2023, are expected to drive economic losses of more than $20 billion, of which insurers and reinsurers will cover more than $1 billion, according to Verisk's Extreme Event Solutions. At least 37,000 lives have been lost following the M7.8 earthquake, ... Read the full article