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.
PCS expands catastrophe loss index service to Mexico
4th September 2019
Property Claim Services (PCS), a division of Verisk that collects and aggregates the insurance industry loss data widely used by reinsurers, has announced the launch of its catastrophe loss index for Mexico. PCS Mexico will provide full coverage for natural and man-made events across Mexico with total re/insurance industry loss estimates ... Read the full article
Reviving the private US flood market could generate $41.6bn in premiums: Verisk
23rd August 2019
Recent analysis from data analytics provider Verisk suggests that reviving the private flood insurance market in the US could generate $41.6 billion in written premiums for insurers from owner-occupied homes. The figure came as part of a study that concluded 62 million residential locations in the US could be at moderate ... Read the full article
Verisk launches Sequel re/insurance product suite in US
10th July 2019
Data analytics provider Verisk has launched a new product suite in the US aimed at providing easily configured and full-cycle re/insurance solutions that enable clients to quickly streamline their workflows and increase market agility. The suite, aimed at enabling re/insurance professionals to efficiently manage critical process steps and calculate risk accumulation, ... Read the full article
Verisk restructures Geomni unit to boost focus in UK & Europe
23rd May 2019
Data analytics provider Verisk has integrated GeoInformation Group into its Geomni business and rebranded it as Geomni UK in a push to enhance its solutions for customers in the UK and Europe. The GeoInformation Group was founded in 1998 and became part of Verisk in 2016, and has been focused on ... Read the full article
Lower cats, premium growth drive higher profits for US P&C insurers: Verisk, APCIA
8th May 2019
A significant decline in catastrophe losses and double-digit premium growth helped U.S. private property and casualty insurers increase their net income by more than 66% in 2018 to $60 billion (after tax), according to Verisk, and the American Property Casualty Insurance Association (APCIA). The report finds that net premiums increased year-on-year ... Read the full article
Verisk looks to improve life insurance underwriting with Human API partnership
29th April 2019
Data analytics provider Verisk has announced a partnership with health data consolidation platform Human API. The partnership will allow Verisk to leverage electronic health record (EHR) data collected by Human API and in-turn produce risk scoring and benchmarking information for life insurers. Insurers will be able to use Verisk’s analytic tools to inform ... Read the full article
QIC Global partners with Verisk’s Sequel on cyber exposure
25th March 2019
QIC Global, the umbrella organisation for Qatar Insurance Company's (QIC) international trading brands, has signed a contract to use software from Sequel, a Verisk business, to model cyber risk. By utilising Sequel’s Impact system, QIC Global hopes to be able to better capture and aggregate complex cyber exposure. The company is already ... Read the full article
Insurtech firm Hippo Insurance integrates Verisk solutions
8th March 2019
Hippo Insurance, a California-based insurtech company focused on home insurance, has announced that it has integrated Verisk solutions into its full range of products. By using data from Verisk, Hippo says it can automatically fill in the information needed to quote and bind a home insurance policy and supply customers with ... Read the full article
PCS to reveal market share data capture rates for $1bn+ U.S cats
27th February 2019
Property Claim Services (PCS), a division of Verisk that collects and aggregates the insurance industry loss data widely used by reinsurers, is for the first time to reveal market share capture rates for U.S catastrophe’s with insured losses of at least $1 billion. This decision to increase the transparency of estimates ... Read the full article
PCS enhances U.S catastrophe loss estimates with county-level resolution
20th February 2019
Property Claims Services (PCS), a Verisk Analytics business, is now offering county-level resolution for U.S catastrophe events with insured losses of at least $1 billion. The enhanced level of granularity is available for immediate use and will also be applied retrospectively to Hurricanes Harvey, Irma and Maria, along with five other ... Read the full article
U.S P&C insurers see underwriting turnaround in 9M 2018: ISO
18th January 2019
U.S property and casualty (P&C) insurers reported a $4.7 billion net underwriting gain over the first nine months of 2018, representing a sharp turnaround from the $21.0 billion loss in the previous year, according to a report from ISO, a Verisk business. The report, produced in collaboration with the American Property ... Read the full article
Verisk to acquire Rulebook for $87mn
3rd December 2018
Data analytics provider Verisk has signed a definitive agreement to acquire Rulebook, a provider of business intelligence and software solutions for the London Insurance Market. The reported purchase price is $87 million in cash, funded through cash on hand and existing bank facilities, with the deal expected to close in the ... Read the full article
Implementing autonomous tech into reserving practices a benefit for re/insurers: Mark Hewitt
2nd November 2018
In light of the potential for future changes to the Ogden discount rate, for insurers and reinsurers, the implementation of autonomous technology into their reserving practices offers both cost and time benefits, according to Mark Hewitt, creator of the Verisk piCalculator and Founder, Director and Head of Development at Rebmark, ... Read the full article
Verisk adds new events records to EPIX energy insurance platform
29th October 2018
Data analytics provider Verisk has enhanced its energy re/insurance platform, Energy & Power Intelligence Xchange (EPIX), with a new module that features records of events involving 10,000 energy assets around the world. The module, called EPIX Experience, will enable re/insurers to see the frequency of events such as regulatory violations, man-made ... Read the full article
Verisk releases updated personal injury claims calculator
15th October 2018
Data analytics provider Verisk has released the latest version of piCalculator, its solution for calculating schedules of loss for personal injury claims. piCalculator is an all-in-one software solution that handles all calculations in the injury claims process, which Verisk suggests has already helped lawyers, barristers, and large-loss claims handlers achieve around ... Read the full article
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