VRSK

First Chicago Insurance Company Enhances Commercial Auto Underwriting with New Verisk Solution

Retrieved on: 
Thursday, June 15, 2023
VRSK, FCIC, Workflow, WIN, VIN, CL, First Chicago Bank, Insurance, Verisk Analytics

Jersey City, N.J., June 15, 2023 (GLOBE NEWSWIRE) -- First Chicago Insurance Company (FCIC), a proud member of the Warrior Insurance Network (WIN), is refining its commercial auto underwriting with robust vehicle data from Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider.

Key Points: 
  • Jersey City, N.J., June 15, 2023 (GLOBE NEWSWIRE) -- First Chicago Insurance Company (FCIC), a proud member of the Warrior Insurance Network (WIN), is refining its commercial auto underwriting with robust vehicle data from Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider.
  • The insurer is leveraging Verisk’s new commercial lines (CL) VIN Decode solution to gain a more robust understanding of risk unique to commercial and specialized vehicles.
  • “Commercial vehicles come in many different shapes and sizes, and their unique attributes can have a significant impact on their risk profiles,” Mark Bissonette, Vice President, Commercial Lines Underwriting, FCIC.
  • “Achieving profitability in the commercial auto market has been a challenge for many insurers in the past decade, and we’re committed to creating solutions that help clients overcome those challenges,” said Joe Wodark, vice president of auto underwriting solutions at Verisk.

Insurance Fraud Finds a New Enemy in Verisk’s Advanced Image Forensics

Retrieved on: 
Wednesday, June 14, 2023
Lightning, Coalition Against Insurance Fraud, Insurance, VRSK, Intelligence, Fraud, P&C, Internet, Online shopping

Jersey City, N.J. , June 14, 2023 (GLOBE NEWSWIRE) -- Insurers in the United States now have a new weapon from Verisk in the battle against claims fraud: image forensics.

Key Points: 
  • Jersey City, N.J. , June 14, 2023 (GLOBE NEWSWIRE) -- Insurers in the United States now have a new weapon from Verisk in the battle against claims fraud: image forensics.
  • Drawing on millions of claims images in Verisk’s databases, including the loss history database ClaimSearch®, the image forensics solution analyzes every image submitted as part of a claim to detect indicators of fraud.
  • The image forensics solution will be featured in a webinar on June 21.
  • Reusing or altering photos is just one example of the growing trend of insurance fraud, which costs the United States approximately $308.6 billion annually, according to the Coalition Against Insurance Fraud.

A Surprisingly High Number of Americans Think Insurance Fraud Is Not a Crime, New Survey Shows

Retrieved on: 
Wednesday, June 7, 2023
Psychology, Coalition Against Insurance Fraud, Insurance, Policy, VRSK, Ageing, Fraud, Crime, Cryptocurrency, United States census

JERSEY CITY, N.J., June 07, 2023 (GLOBE NEWSWIRE) -- A significant number of Americans aged 45 and younger show a high level of tolerance for insurance fraud – even feeling envious of those who commit it – according to a new survey of insurance consumers by Verisk (Nasdaq: VRSK) and the Coalition Against Insurance Fraud.

Key Points: 
  • JERSEY CITY, N.J., June 07, 2023 (GLOBE NEWSWIRE) -- A significant number of Americans aged 45 and younger show a high level of tolerance for insurance fraud – even feeling envious of those who commit it – according to a new survey of insurance consumers by Verisk (Nasdaq: VRSK) and the Coalition Against Insurance Fraud.
  • The study analyzes how American consumers view insurance fraud and insurance crime and delves into the psychology of insurance fraud to understand the motivations and justification for the crime derived from in-depth interviews with those convicted of insurance fraud.
  • “This study should sound the alarm for insurers, consumer activists, regulators, and legislators on the state of fraud in America.
  • While it’s marginally reassuring that 84% of Americans in the survey consider insurance fraud a crime, the 16% that do not consider it a crime potentially represent more than 53 million Americans,” said Matthew Smith, executive director of the Coalition Against Insurance Fraud.

Everstream Analytics Appoints Prominent Business, Technology and Supply Chain Experts to Executive Advisory Board

Retrieved on: 
Thursday, June 8, 2023
Supply Chain Management, Data Management, Retail, Technology, Software, Networks, Blue Yonder, VRSK, Verisk Analytics, Senior, FedEx, CSO, Risk management, Pulse, Organization, Estée Lauder, Motorola, Acquisition, Revlon, Growth, ESG, Platinum, Management

Everstream Analytics , the global supply chain insights and risk analytics company, today announced the appointment of five strategic members to its Executive Advisory Board.

Key Points: 
  • Everstream Analytics , the global supply chain insights and risk analytics company, today announced the appointment of five strategic members to its Executive Advisory Board.
  • The Executive Advisory Board will complement the company’s Board of Directors to serve as a catalyst for early and ongoing innovation while advancing business development opportunities and evangelizing the Everstream brand globally.
  • As we widen our lead in the supply chain risk management market, their insights will be pivotal in driving our roadmap and product innovation,” said Julie Gerdeman, CEO of Everstream.
  • David Shillingford , former CEO and CSO of Everstream with deep supply chain analytics expertise, led the development of several industry-wide data and analytics platforms both as an entrepreneur and as SVP Supply Chain at Verisk Analytics (NASDAQ: VRSK).

Verisk to Present at William Blair's 43rd Annual Growth Stock Conference and Baird’s 2023 Global Consumer, Technology & Services Conference

Retrieved on: 
Thursday, June 1, 2023
Interest, Webcast, VRSK, Conference, Cryptocurrency

Interested parties are invited to listen to the live events via webcast at the investor section of the Verisk website: https://investor.verisk.com/News--Events-/Events--Presentations/default.....

Key Points: 
  • JERSEY CITY, N.J., June 01, 2023 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, today announced that company leaders will present at two upcoming investor conferences.
  • President and CEO Lee M. Shavel will present at William Blair's 43rd Annual Growth Stock Conference on Tuesday, June 6 at 9:40 a.m.
  • CFO Elizabeth Mann will speak at Baird’s 2023 Global Consumer, Technology & Services Conference on Thursday, June 8 at 12:15 p.m.
  • Interested parties are invited to listen to the live events via webcast at the investor section of the Verisk website: https://investor.verisk.com/News--Events-/Events--Presentations/default.... .

Verisk Recognized by USA TODAY as One of America’s Climate Leaders 2023

Retrieved on: 
Thursday, June 1, 2023
VRSK, Silent Scope 2, Risk assessment, Carbon, Social Security Government Pension Offset, Biophysical environment, Climate, ESG, Weather, Social, Renewable energy, Verisk Analytics

“Recognition such as America’s Climate Leaders list serves as a useful barometer of our progress,” said Patrick McLaughlin, Verisk’s Chief Sustainability Officer. “But reducing emissions is only half of Verisk’s story. We’re uniquely positioned to help clients and other stakeholders address the impacts of climate and weather challenges -- by providing leading-edge global and individual risk assessment indices, extreme event models and event response and claims management tools.”

Key Points: 
  • JERSEY CITY, N.J., June 01, 2023 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, has been named one of America’s Climate Leaders by USA TODAY and Statista.
  • Verisk exceeded its target to reduce absolute Scope 1 and 2 emissions 21% by 2024, compared to a 2019 baseline.
  • “Recognition such as America’s Climate Leaders list serves as a useful barometer of our progress,” said Patrick McLaughlin, Verisk’s Chief Sustainability Officer.
  • Verisk has also been recognized by Investor’s Business Daily, ranking third on the 100 Best ESG Companies list .

Verisk Reports First-Quarter 2023 Financial Results

Retrieved on: 
Wednesday, May 3, 2023
OCC, Insurance, EMI-Capitol Special Markets, VRSK, Financial services, Veritas Capital, Environmental health, GAAP, Sale, EBITDA, 3E, CFO, Growth, EPS, Bank, Energy, Verisk Analytics

As such, results from 3E and our Financial Services segment are included in our prior year consolidated financials.

Key Points: 
  • As such, results from 3E and our Financial Services segment are included in our prior year consolidated financials.
  • JERSEY CITY, N.J., May 03, 2023 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics provider, today announced results for the first quarter ended March 31, 2023.
  • "We are pleased that 2023 is off to a very strong start at Verisk.
  • Our first-quarter results are a demonstration of our sharpened focus, operating discipline, and results-oriented culture," said Lee Shavel, president and CEO, Verisk.

New Rules Engine from Verisk Powers Transformation in Property Claims Estimation

Retrieved on: 
Thursday, April 27, 2023
Insurance, VRSK, Research, Risk management, Verisk Analytics

XactXpert is a new rules engine in Verisk’s Xactimate property estimating solution that enables insurers to automate and accelerate the review of property estimates from days to minutes by integrating customized, claim estimation guidelines into their digital workflows.

Key Points: 
  • XactXpert is a new rules engine in Verisk’s Xactimate property estimating solution that enables insurers to automate and accelerate the review of property estimates from days to minutes by integrating customized, claim estimation guidelines into their digital workflows.
  • “Property insurers shouldn’t have to spend huge amounts of time reviewing property estimates, detecting potential issues, and communicating those issues to contractors,” said Aaron Brunko, president of Verisk’s Property Estimating Solutions.
  • Customized or pre-authored rules: Insurers can customize their XactXpert guidance and audit with more than 1,000 pre-authored rules in the solution or by requesting new rules from Verisk.
  • Seamless delivery: XactXpert business rules can be generated and delivered within minutes through Xactimate, Verisk’s powerful solution for property claims estimation.

Verisk Acquires German InsurTech SV Krug, Expands European Motor Solutions

Retrieved on: 
Wednesday, April 26, 2023
Insurance, VRSK, SV, Acquisition, Ecosystem, Personal injury

COLOGNE, April 26, 2023 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, has acquired Krug Sachverständigen GmbH, a Germany-based motor claims solutions provider.

Key Points: 
  • COLOGNE, April 26, 2023 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, has acquired Krug Sachverständigen GmbH, a Germany-based motor claims solutions provider.
  • Founded in 1982, SV Krug has established an industry-leading position in the German insurance market through highly digitalised solutions that help insurers and car manufacturers achieve better and faster customer service, leading to sustainable reductions in costs.
  • SV Krug streamlines motor claims with digital solutions that enable insurers to quickly obtain claim photos and information from policyholders, analyze those claims and deliver payments to policyholders.
  • “Verisk will add SV Krug’s established claims management solutions to Verisk’s leading data analytics and insurance ecosystem to provide an end-to-end claims solution to the European insurance market,” said Olav Skowronnek, managing director for Continental Europe at Verisk Claims Solutions.

Verisk Maplecroft collaborating with LGIM to power new Sovereign ESG Index funds offering

Retrieved on: 
Thursday, April 20, 2023
VRSK, LGIM, Verisk Analytics, Market, Sovereign, Risk, Maplecroft, Generation Investment Management, ESG, Research, Legal & General, Security (finance)

LGIM plans to utilise the depth, breadth and accuracy of Verisk Maplecroft’s portfolio of ESG risk analytics, which outperformed alternative data across a broad set of criteria, to develop Sovereign ESG Index funds.

Key Points: 
  • LGIM plans to utilise the depth, breadth and accuracy of Verisk Maplecroft’s portfolio of ESG risk analytics, which outperformed alternative data across a broad set of criteria, to develop Sovereign ESG Index funds.
  • Verisk Maplecroft’s sovereign ESG analytics draw on thousands of different geospatial, unstructured, structured and expert-scored subnational and national indicators, and a range of proprietary modelling techniques.
  • “We are delighted to be working with LGIM on their new Sovereign ESG Index funds”, said James Lockhart Smith, VP of Markets & ESG at Verisk Maplecroft.
  • Lee Collins, Head of Index Fixed Income at LGIM added: “We have exciting plans to develop new LGIM-designed Sovereign ESG Index funds, driven by Verisk Maplecroft’s data.