Reinsurance News
Verisk
Verisk is a leading strategic data analytics and technology partner to the global insurance and reinsurance industry.
Read our Verisk insurance or reinsurance news and analysis below.
Industry ‘responded very well’ to severe U.S. winter weather event: Fulton, Xactware
15th April 2021
In a recent video interview for our sister publication Artemis a discussion took place between Xactware President Mike Fulton and PCS Head Tom Johansmeyer on the recent US winter storm and Texas freeze loss event. The severe winter weather and deep freeze event that affected a significant proportion of ... Read the full article
Data needs to be imbued with meaning if re/insurers are to benefit: Verisk’s Payne
9th April 2021
It is universally accepted that data is integral to the future-proofing of the insurance industry, however its value diminishes when insurers lose sight of what they set out to achieve, according to Tom Payne, Managing Director UK & Europe at Verisk Underwriting, speaking in a recent interview with Reinsurance News. With ... Read the full article
Verisk announces three key leadership changes
18th February 2021
Data analytics provider Verisk has announced three key changes to its executive management team, including the appointment of Kathy Card Beckles from Chase Consumer Bank as exec vice president, general counsel and corporate secretary. Effective April 5, Beckles will replace Kenneth Thompson, who announced his retirement late last year. “We’re thrilled to ... Read the full article
PCS adds elemental Gulf of Mexico losses to Global Marine and Energy platform
14th October 2020
Property Claim Services (PCS), part of Verisk, has expanded its PCS Global Marine and Energy loss data service with the addition of elemental loss reporting for the Gulf of Mexico. In 2017, PCS ventured away from the property catastrophe sector for the first time with the launch of its Global ... Read the full article
PCS: Market sees hurricane Laura offshore energy loss at up to $250m
8th September 2020
Hurricane Laura's impacts to the offshore energy insurance and reinsurance market may be lower than anticipated, as Property Claim Services (PCS) explained to us that that the market sees the offshore loss from the hurricane at up to $250 million. Catastrophe risk modeller RMS said last week that it expects ... Read the full article
P&C surplus drops $75.9bn on Q1 stock market downturn: Verisk
12th August 2020
The surplus for the private US property and casualty (P&C) re/insurance industry dropped by $75.9 billion in the first quarter of 2020 as the stock market suffered a major down. This is according to data analytics provider Verisk, who said the drop was the largest ever quarterly decline for the market. Since ... Read the full article
Verisk updates cyber risk modelling platform ARC
28th July 2020
Leading data analytics provider Verisk has announced the latest release of 'Analytics of Risk from Cyber' (ARC), its cyber risk modelling platform designed to inform risk selection, portfolio management, and risk transfer. This latest release hosts a comprehensive set of models powered by catastrophe modelling firm AIR, including individual risk models, aggregation ... Read the full article
Verisk launches Life Risk Navigator software platform
22nd July 2020
Data analytics provider Verisk has announced the release of Life Risk Navigator, a cloud-based stochastic risk modelling platform to inform risk selection, quantify changes in mortality rate, and improve hedging strategies. The analytics provided by Life Risk Navigator are driven by Verisk’s Life Risk Models, a set of probabilistic risk models ... Read the full article
U.S. P/C insurance industry’s net income up 3% in 2019: Verisk, APCIA
12th May 2020
The net income for the private U.S. property/casualty insurance sector increased by 3% in 2019 to $61.4 billion as the industry's combined ratio improved to 98.9%, according to analysis by Verisk and the American Property Casualty Insurance Association (APCIA). Analysis of the sector through 2019 shows that U.S. P/C insurers experienced ... Read the full article
PCS rolls outs industry loss and index services in LatAm
3rd March 2020
Property Claim Services (PCS), a Verisk Analytics business, has expanded its industry loss index coverage to the Latin America region four months ahead of schedule. The firm explained that the 2019 riots in Chile led to significant insurance and reinsurance activity in the LatAm region, leading to a boost in demand ... Read the full article
Aerial imagery specialist Vexcel partners with Verisk’s Geomni
23rd January 2020
Vexcel Imaging, a specialist in aerial imagery data, cameras, and photogrammetry software, has agreed to acquire the imagery sourcing group from Verisk’s Geomni business. The deal will combine Geomni’s imagery surveying and content-related teams and assets into Vexcel, and will also see Verisk become a minority owner in Vexcel, with full ... Read the full article
US P&C insurers record 15% jump in underwriting gains in 9M 2019: Verisk
17th January 2020
Analysis by Verisk reveals that during the first nine months of 2019, the private U.S. property and casualty (P&C) insurance industry recorded underwriting gains of $5.4 billion, up 15% on the $4.7 billion recorded a year earlier. The jump in underwriting gains is mostly a result of growth in premiums and ... Read the full article
Verisk acquires life insurance & annuity software company, FAST
5th December 2019
Verisk Analytics has announced that it has signed a definitive agreement to acquire FAST, a software firm for the life insurance and annuity sector, for a purchase price of $193.5 million. FAST, which stands for Flexible Architecture, Simplified Technology, offers a policy administration system that enables insurers to accelerate both underwriting ... Read the full article
Verisk enhances personal injury calculator ahead of whiplash reforms
15th November 2019
Global data analytics provider Verisk has announced the launch of piCalculator Portal Edition (PE), a new version of its personal injury claims calculator designed specifically to support claims through the existing MOJ portal and the new RTA Small Claims Track portal. The Portal Edition enables law firms and insurers to automate ... Read the full article
Verisk & PartnerRe leverage AI to transform life insurance underwriting
25th October 2019
Data analytics provider Verisk has collaborated with Bermudian reinsurer PartnerRe on the development of its new life insurance solutions, which, use advanced voice analytics and artificial intelligence (AI) to transform both underwriting and the customer experience. Under the new partnership, PartnerRe is set to test new tech that is able to ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
