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.
Olumide Soroye added to Verisk’s Board of Directors
22nd August 2022
Insurance and analytics provider Verisk has appointed Olumide Soroye as independent director of the company’s Board of Directors, effective immediately. Soroye brings 30 years of leadership experience across multiple industries towards the role. Moreover, Soroye currently serves as President and Chief Executive Officer of Fortive Corporation’s Intelligent Operating Solutions segment. Before joining ... Read the full article
Verisk insurance segment revenue up 10.9% through Q2
3rd August 2022
Insurance and analytics provider Verisk has reported revenue growth of 10.9% within its Insurance segment, which offset shrinking revenues across other business segments. Insurance revenue grew from $550.0 million to $610.0 million from Q2 last year to the same period in 2022. Meanwhile, Underwriting & rating revenue was up 12.8% to $437.8 ... Read the full article
Verisk appoints Elizabeth Mann as Chief Financial Officer
22nd July 2022
Leading global data analytics provider, Verisk, has named Elizabeth Mann as executive vice president and chief financial officer (CFO). In her new role as CFO she will lead Verisk’s global finance organisation, including accounting and controllership, financial planning and analysis, investor relations, strategic sourcing and procurement, tax and treasury. Effective 15 September, ... Read the full article
Verisk appoints Tim Rayner President of Specialty Business Solutions
1st July 2022
Leading global data analytics provider, Verisk has named Tim Rayner President of the company’s Specialty Business Solutions group, effective immediately. As an experienced veteran within the insurance industry, with more than 20 years of experience, Rayner will bring a strong level of expertise with him towards his new role. He most recently ... Read the full article
Verisk launches new service for P&C insurers
30th June 2022
Insurance and analytics provider, Verisk has announced the launching of a service that will help property and casualty insurers improve claims processing efficiencies. Customers using Verisk’s ClaimSearch solution can now access first notice of loss (FNOL) and telematics data with little or no insurer technology resources required to integrate, said Verisk ... Read the full article
Verisk and Loveland integrate property claims scoping process
29th June 2022
Verisk’s claims-handling solutions, Xactimate, XactAnalysis and Loveland’s IMGING property inspection data platform are to be integrated, simplifying the process of estimate creation for insurance adjustors. The result is a full artificial intelligence and data-driven end-to-end property adjusting software solution that provides complete 3-D models and measurements of structures while keeping ... Read the full article
P&C industry strong despite underwriting losses: analysts
10th June 2022
Despite experiencing an underwriting loss, the property andcasualty insurance industry ended 2021 strong and remains able to support policyholders, according to a report from Verisk and the American Property Casualty Insurance Association (APCIA). In 2021, the insurance industry experienced a $3.8 billion net underwriting loss, after a $5.2 billion underwriting gain ... Read the full article
Verisk & LIMRA partner to combat financial crimes in life insurance
8th June 2022
Global data analytics provider, Verisk has announced that it is partnering with LIMRA to deliver greater capabilities to insurers and recordkeepers, to help them combat fraud and financial criminal attacks on their customers. The partnership will expand Verisk’s extensive anti-fraud portfolio, which includes ClaimSearch, the world’s largest database of property and ... Read the full article
Verisk releases new web-based weather mapping and analytics platform
8th June 2022
Verisk has expanded its weather intelligence with the release of its new mapping and analytics platform. It’s newly enhanced web-based weather analytics data solution, Respond MAP, enables users to combine valuable weather data with locations of interest, such as policies-in-force, to quickly evaluate the impact of significant weather events. The solution also ... Read the full article
Verisk names new President of Claims Solutions
6th June 2022
Insurance and analytics provider, Verisk has appointed Maroun Mourad as President of Claims Solutions. He will succeed Rich Della Rocca, who is set to retire from Verisk after 27 years at the company, effective July 1, 2022. Mourad joined Verisk in 2015 as Senior Vice President, Commercial Lines. He then quickly advanced ... Read the full article
Verisk appoints new leaders after investor pressure
25th May 2022
Global data analytics provider Verisk has announced the appointments of Lee M. Shavel as CEO and Mark V. Anquillare as President, following its annual shareholders meeting. Shavel was also elected to the Verisk Board of Directors, and three new independent directors nominated by the company, were elected to the Verisk’s Board ... Read the full article
Revenue increases of 6.8% in Q1 2022 for Verisk
4th May 2022
Verisk is reporting an increase in revenues of 6.8% in Q1 2022, according to its latest results. According to the firm, net income attributable was $505.7m, up 199.9% for the first quarter of 2022. The increase was primarily related to $450.8m gain from the sale of its environmental health and safety ... Read the full article
Ukraine conflict industry loss could exceed $20bn: PCS
18th April 2022
The insurance and reinsurance industry loss from the conflict in Ukraine could exceed US $20 billion, according to Verisk-owned specialist claims and loss data unit PCS. Property Claim Services (PCS) has analysed data from its three most relevant product offerings, the PCS Global Aviation, PCS Global Marine and Energy, and PCS ... Read the full article
Verisk delivers Health Risk Rating Tool to China with AXA
7th April 2022
Verisk has announced that medical reinsurance provider & member of the AXA Group, AXA Life & Health Reinsurance is now using Verisk’s Health Risk Rating Tool. AXA Life & Health Reinsurance are using the tool to provide its insurance partners in China the ability to offer automated health insurance underwriting decisions, ... Read the full article
Verisk forms Climate Advisory Council
5th April 2022
Verisk has announced the formation of a Verisk Climate Advisory Council, whose members will provide strategic guidance and feedback on climate change solutions the company is developing. The ongoing research of the council members will help ensure that Verisk is well-informed on the latest climate change research and analyses, the firm ... Read the full article
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