From Numbers to Knowledge: Exploring Verisk Analytics

Insights in Action: Navigating Verisk's Data Landscape

Company Outline

Source: Harvard

Verisk Analytics, Inc. is a company that helps insurance companies understand and avoid potential losses by providing them with data analytics and technology solutions. They offer different tools for underwriting, pricing, and workflow optimization. They also provide information solutions for property and auto insurance and catastrophe modeling solutions to help companies plan for the financial consequences of catastrophes. 

Verisk Analytics also provides solutions for life insurance, fraud detection, compliance reporting, subrogation liability assessment, litigation, and repair cost estimation. It offers software to the specialty insurance market. The company was founded in 1971 and is headquartered in Jersey City, New Jersey.

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Perspective and Competitive Edge

Verisk Analytics is a leading big data and analytics provider for the U.S. property and casualty insurance industry. Their core product is industry-standard insurance programs, contributing over 40% of their revenue. They also offer tools for estimating repair and reconstruction costs and catastrophic modeling. Verisk has a significant position in the US P&C insurance data analytics market and can use its data and relationships to expand into other markets.