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.
Verisk’s Whitespace re/insurance platform launches in the US
4th October 2024
Verisk, a global data analytics and technology provider, has announced the US launch of its re/insurance platform Whitespace. Whitespace is an all-in-one intuitive platform which enables brokers, underwriters and managing general agents (MGAs) to offer, negotiate and place business in the global re/insurance market. It was created with the intention of catering ... Read the full article
Insured losses from Central Europe floods seen at up to $3.4bn by Verisk
1st October 2024
Global data analytics and technology provider, Verisk's Extreme Event Solutions arm has estimated that insured losses from September flooding in Czechia, Poland, and Austria will land between $2.2 billion (€2bn) and $3.4 billion (€3bn). From September 12th to 16th, severe flooding driven by an extreme amount of rain impacted large parts ... Read the full article
Insurance industry should expect average annual cat losses of $151bn: Verisk
3rd September 2024
A combination of rapid exposure growth and inflationary pressures means that insurers should now be expecting average annual losses (AAL) from global natural catastrophes to reach a new high of $151 billion, according to a new study from Verisk Extreme Event Solutions. This figure, which is compiled through the firm's industry ... Read the full article
Verisk SBS unveils offshore windfarm risk assessment module
21st August 2024
Verisk Specialty Business Solutions, the re/insurance software specialist operating in London and US re/insurance markets, has unveiled a new offshore renewable energy module within its exposure management system, Sequel Impact. According to the announcement, this new enhancement to Verisk Sequel Impact leverages the worldwide offshore windfarms dataset curated by the research ... Read the full article
Verisk’s Whitespace launches new contract library & builder features
7th August 2024
Whitespace, a Verisk company and fully digital e-trading platform, has launched a new contract data library and enhanced contract builder functionality. The upgraded functionality significantly improves Whitespace’s user interface, enabling users to create and manage a library of company-specific contract clauses, wording, and headings with standardised tagging and formatting. Existing Whitespace ... Read the full article
Verisk sees consolidated revenues grow 6.2% in Q2 2024
31st July 2024
Verisk, a global data analytics and technology provider, has reported an increase in its consolidated and organic constant currency (OCC) revenues in the second quarter of 2024, with growth contributions from both underwriting and claims within Insurance. Consolidated revenues were $717 million, up 6.2% from the $675 million reported in Q2 ... Read the full article
Verisk unveils ISO Experience Index to better inform pricing decisions
10th July 2024
Verisk, the global data analytics and technology provider, has launched ISO Experience Index, a tool which is designed to modernise how actuaries in the insurance industry analyze risk patterns. According to the announcement, the tool will address the increasing volatility and scale of loss patterns seen across the industry. It's important to ... Read the full article
Allianz Trade and BPL enhance data sharing with API integration via Whitespace
2nd July 2024
Insurer Allianz Trade and credit and political risk insurance broker, BPL, have launched a collaboration to transform the way underwriters and brokers share enquiry data using Application Programming Interface (API) integration through the independent digital trading platform Whitespace, a Verisk business. Christophe White, Global Head, Specialty Credit, Allianz Trade, commented: “I ... Read the full article
Verisk pegs insured losses from southern Germany flooding at up to $3.9bn
19th June 2024
Verisk's Extreme Event Solutions business, a global provider of data analytics and technology, has estimated that insurance industry losses from recent flooding in southern Germany will fall between USD 2.6 billion and USD 3.9 billion (EUR 2.4 billion to EUR 3.6 billion). Between May 31st and June 3rd, up to 160 ... Read the full article
Earnix announces collaboration with Verisk ERC solution
14th June 2024
Earnix, a provider of AI-based SaaS solutions for financial services, has announced a strategic partnership with Verisk, a data analytics and technology provider. This collaboration will allow Earnix to incorporate Verisk's ISO Electronic Rating Content (ERC) into its pricing and rating platform. The integration aims to enhance accuracy, speed up delivery ... Read the full article
Verisk’s e-trading platform introduces workflow automation functionality
2nd May 2024
Verisk’s Whitespace digital e-trading platform has introduced workflow automation functionality with Digital Follow which will be trialled by a select set of customers before a wider launch in the second half of this year. Developed with brokers' and underwriters’ needs in mind Digital Follow allows them, or brokers’ in-house underwriters, to ... Read the full article
Verisk reports Q1 consolidated revenues of $704m
1st May 2024
Verisk has revealed that consolidated revenues in Q1 of 2024 were $704 million, up from $652 million in the previous year. Elsewhere, Verisk's underwriting revenues increased 8.2% in the quarter and 7.8% on an organic constant currency (OCC) basis. The firm explained that this was primarily due to its forms, rules ... Read the full article
Verisk launches Next Generation Models to help re/insurers mitigate losses
8th April 2024
Global data analytics and technology provider Verisk has launched its Next Generation Models (NGM), which will be implemented by insurers and reinsurers to evaluate risks and anticipate insured losses from extreme events more accurately. According to Verisk, this suite of 100+ models is now available on its catastrophe risk management software ... Read the full article
Verisk adds Greg Hendrick to its Board of Directors
2nd April 2024
Verisk, a global data analytics and technology provider, has appointed Greg Hendrick as an independent director of its Board of Directors, effective immediately. Lee Shavel, President and Chief Executive Officer, Verisk commented on the appointment, "We’re thrilled to welcome Greg to the Board. Greg’s deep understanding of the insurance industry and ... Read the full article
Verisk SBS appoints Taha Ahmad as Director of Pricing Solutions
27th March 2024
Verisk Speciality Business Solutions (Verisk SBS), a re/insurance software specialist, has recently announced the appointment of Taha Ahmad to the senior position of Director of Pricing Solutions. In this newly established position, Ahmad will oversee all aspects of pricing solutions, driving strategy and development efforts across Verisk SBS. Ahmad’s appointment reflects a ... Read the full article
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