Verisk Analytics

AIR Worldwide Estimates Insured Losses for Hurricane Laura Will be Between USD 4 Billion and USD 8 Billion

Retrieved on: 
Monday, August 31, 2020
Meteorology, Risk management, Tropical cyclones, AIR Worldwide, Disaster management, Verisk Analytics, Tropical cyclone, Landfall

Boston, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses to onshore property resulting from Hurricane Lauras winds and storm surge will range from USD 4 billion to USD 8 billion.

Key Points: 
  • Boston, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses to onshore property resulting from Hurricane Lauras winds and storm surge will range from USD 4 billion to USD 8 billion.
  • Rita made landfall west of where Laura did, impacting population centers of Texas; Laura made landfall well east of Houston and west of New Orleans, keeping losses lower.
  • AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events.
  • AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia.

Kansas City Life Insurance Company Selects FAST Software to Replace Legacy Platforms

Retrieved on: 
Thursday, August 27, 2020
Regions of the United States, Verisk Analytics, Kansas City Life Insurance Company, KANSAS, OTC Markets Group, United States

Jersey City, NJ, Aug. 27, 2020 (GLOBE NEWSWIRE) -- FAST, a Verisk (Nasdaq:VRSK) business, announced today that Kansas City Life Insurance Company has licensed FAST software to replace its legacy platforms, streamline administration of its existing business, and enable the development of a new digital ecosystem for the future.

Key Points: 
  • Jersey City, NJ, Aug. 27, 2020 (GLOBE NEWSWIRE) -- FAST, a Verisk (Nasdaq:VRSK) business, announced today that Kansas City Life Insurance Company has licensed FAST software to replace its legacy platforms, streamline administration of its existing business, and enable the development of a new digital ecosystem for the future.
  • Kansas City Life plans to use FASTs software to replace its platforms for new business, policy administration, billing, claims, and distribution management.
  • We chose FAST because we believe they can help enable growth opportunities, meet customer and agent expectations, improve digital relevancy, and reduce expenses with more efficient processes, said Phil Bixby, President of Kansas City Life Insurance Company.
  • Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri.

Farm Bureau Insurance of Michigan Adopts Verisk’s LOCATION Platform to Deliver Address-Level Fire Protection Data

Retrieved on: 
Tuesday, August 25, 2020
American Farm Bureau Federation, Climate change denial, Delaware, Lackawanna and Western Railroad, Saline County, Missouri, United States Department of Agriculture, Insurance, Verisk Analytics, Lansing, Michigan, Service companies, Economy of the United States, United States

Lansing, MI and Jersey City, NJ, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Verisk (Nasdaq:VRSK), a leading data analytics provider, and Farm Bureau Insurance of Michigan (Farm Bureau Insurance), announced today that Farm Bureau Insurance will adopt Verisks LOCATION platform to maximize its use of Public Protection Classification (PPC) for precise, address-level measurement of the strength of fire protection for insured properties.

Key Points: 
  • Lansing, MI and Jersey City, NJ, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Verisk (Nasdaq:VRSK), a leading data analytics provider, and Farm Bureau Insurance of Michigan (Farm Bureau Insurance), announced today that Farm Bureau Insurance will adopt Verisks LOCATION platform to maximize its use of Public Protection Classification (PPC) for precise, address-level measurement of the strength of fire protection for insured properties.
  • Farm Bureau Insurance will use LOCATION, which can deliver address-level information on a variety of risks, to drive PPCs fire protection grading deeper into its underwriting workflow.
  • Farm Bureau Insurance of Michigan was founded in 1949 by Michigan farmers who wanted an insurance company that worked as hard as they did.
  • Farm Bureau Insurance agents across Michigan provide a full range of insurance serviceslife, home, auto, farm, business, retirement, Lake Estate, and moreprotecting Michigan residents with more than 660,000 insurance policies statewide.

Updated: Verisk Launches EHR Triage Engine to Help Speed Approval of Life Insurance Applications

Retrieved on: 
Monday, August 10, 2020
Articles, Verisk Analytics, Actuarial science, Scor, Analytics, Underwriting, Economy, Business

The EHR Triage Engine bypasses manual workflows, leveraging advanced predictive analytics and automation to digitally ingest and analyze EHRs.

Key Points: 
  • The EHR Triage Engine bypasses manual workflows, leveraging advanced predictive analytics and automation to digitally ingest and analyze EHRs.
  • Many life insurers are looking to implement digital strategies to modernize and streamline their business for a competitive advantage, said Maroun Mourad, president of global underwriting at Verisk.
  • The EHR Triage Engine helps respond to those customer expectations, an effort supported by a team of Verisk experts in biostatistics, data science, medical research, regulatory compliance, and data privacy.
  • Verisk developed the EHR Triage Engine in collaboration with SCOR, a global Tier 1 reinsurer.

Verisk Launches EHR Triage Engine to Help Speed Approval of Life Insurance Applications

Retrieved on: 
Monday, August 10, 2020
Articles, Verisk Analytics, Business, Medicine, Analytics, Triage

The EHR Triage Engine bypasses manual workflows, leveraging advanced predictive analytics and automation to digitally ingest and analyze EHRs.

Key Points: 
  • The EHR Triage Engine bypasses manual workflows, leveraging advanced predictive analytics and automation to digitally ingest and analyze EHRs.
  • The EHR Triage Engine helps respond to those customer expectations, an effort supported by a team of Verisk experts in biostatistics, data science, medical research, regulatory compliance, and data privacy.
  • Verisk developed the EHR Triage Engine in collaboration with SCOR, a global Tier 1 reinsurer.
  • Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services.

Update: Verisk Telematics Data Integration with Honda Now Live, Providing New Opportunities for Usage-Based Insurance Innovation

Retrieved on: 
Thursday, August 6, 2020
Vehicle insurance, Verisk Analytics, Transport, Automotive electronics, Usage-based insurance, Telematics, Acura, Technology, Cars

The data, available exclusively through the Verisk Data Exchange , can help insurers deliver the benefits of their usage-based insurance (UBI) programs to an expanded audience of customers.

Key Points: 
  • The data, available exclusively through the Verisk Data Exchange , can help insurers deliver the benefits of their usage-based insurance (UBI) programs to an expanded audience of customers.
  • We are making more OEM data available to insurers, so they can reach more of the market and reward safe drivers.
  • With consumer consent, insurers can access Honda and Acura driving behavior data during the quoting process through Verisks point of sale telematics products: The Verisk Driving Score and Verisk Driving Data.
  • Verisk Driving Data targets insurers with their own UBI scoring algorithms, and provides normalized, cross-OEM driving data that can be customized to meet the insurers specifications.

Verisk Telematics Data Integration with Honda Now Live, Providing New Opportunities for Usage-Based Insurance Innovation

Retrieved on: 
Thursday, August 6, 2020
Vehicle insurance, Verisk Analytics, Transport, Automotive electronics, Usage-based insurance, Telematics, Acura, Technology, Cars

The data, is available exclusively through the Verisk Data Exchange , can help insurers deliver the benefits of their usage-based insurance (UBI) programs to an expanded audience of customers.

Key Points: 
  • The data, is available exclusively through the Verisk Data Exchange , can help insurers deliver the benefits of their usage-based insurance (UBI) programs to an expanded audience of customers.
  • We are making more OEM data available to insurers, so they can reach more of the market and reward safe drivers.
  • With consumer consent, insurers can access Honda and Acura driving behavior data during the quoting process through Verisks point of sale telematics products: The Verisk Driving Score and Verisk Driving Data.
  • Verisk Driving Data targets insurers with their own UBI scoring algorithms, and provides normalized, cross-OEM driving data that can be customized to meet the insurers specifications.

Verisk's New ISO ClaimSearch Accelerator Receives Ready for Guidewire Designation

Retrieved on: 
Monday, July 27, 2020
Accelerator, Verisk Analytics

The accelerator enables customers that use ClaimCenter v10 to seamlessly access the real-time claim analysis, valuable alerts, and actionable insights available through the ISO ClaimSearch platform .

Key Points: 
  • The accelerator enables customers that use ClaimCenter v10 to seamlessly access the real-time claim analysis, valuable alerts, and actionable insights available through the ISO ClaimSearch platform .
  • Customers that use Guidewire ClaimCenter 10 can now quickly access these capabilities within their claim systems, as well as other Verisk applications they subscribe to via the new accelerator.
  • Guidewire is also a member of Verisk Strategic Alliances and licenses a wide variety of ISO data, information, and related products.
  • The accelerators are published in the Guidewire Marketplace and are available for download by Guidewire customers at no charge.

Verisk Releases Updated Cyber Risk Modeling Platform

Retrieved on: 
Wednesday, July 22, 2020
Finance, Articles, Money, Verisk Analytics, Business intelligence, Analytics, Risk

JERSEY CITY, N.J., July 22, 2020 (GLOBE NEWSWIRE) -- Verisk (Nasdaq:VRSK), a leading data analytics provider, today announced the latest release of ARC (Analytics of Risk from Cyber), a state-of-the-art cyber risk modeling platform that informs risk selection, portfolio management, and risk transfer.

Key Points: 
  • JERSEY CITY, N.J., July 22, 2020 (GLOBE NEWSWIRE) -- Verisk (Nasdaq:VRSK), a leading data analytics provider, today announced the latest release of ARC (Analytics of Risk from Cyber), a state-of-the-art cyber risk modeling platform that informs risk selection, portfolio management, and risk transfer.
  • Cyber risk is constantly evolving and growing, especially with the digital acceleration driven by the COVID-19 pandemic, said Prashant Pai, vice president of Verisk Cyber Solutions.
  • Likewise, we, as the insurance industry are recognizing that this growing risk impacts many of the cyber coverages; both affirmative and non-affirmative.
  • The Verisk Cyber Solutions suite, built on a database with information from more than 12 million worldwide businesses, delivers policy language, loss costs, analytics, modeling, workflow capabilities, and more.

ISO Introduces Optional Endorsement for Damage to Underground Utility Lines

Retrieved on: 
Thursday, July 16, 2020
Economy, Service industries, Finance, Types of insurance, Actuarial science, Verisk Analytics, Underwriting, Insurance, Home insurance, Public utility

Jersey City, NJ, July 16, 2020 (GLOBE NEWSWIRE) -- ISO, a Verisk (Nasdaq:VRSK)business, has launched a new homeowners endorsement to address damage to underground utility lines, a risk that isnt always handled by municipalities or covered in standard homeowners insurance policies.

Key Points: 
  • Jersey City, NJ, July 16, 2020 (GLOBE NEWSWIRE) -- ISO, a Verisk (Nasdaq:VRSK)business, has launched a new homeowners endorsement to address damage to underground utility lines, a risk that isnt always handled by municipalities or covered in standard homeowners insurance policies.
  • The new endorsement for the ISO Homeowners Program can be used to provide coverage related to underground pipes, wires, and some buried equipment from a range of causes, including explosions, tree root growth, and wear and tear.
  • Claims arising from buried utilities often come as a surprise because deterioration is hidden until a loss of service occurs, said Doug Caccese, president of ISO Personal Lines.
  • To learn more about ISOs new homeowners endorsement for underground utility lines, visit https://www.verisk.com/insurance/capabilities/underwriting/personal-prop... .