Verisk Analytics, Inc. (VRSK) is a leading provider of risk assessment solutions pioneering the field of data analytics in insurance, natural resources, and financial services. It offers an array of predictive modeling and decision support solutions to customers in rating, underwriting, claims, fraud identification, and marketing to help them make data-driven decisions more effectively and efficiently. Founded in 1971 and headquartered in Jersey City, New Jersey, Verisk operates in 30 different countries worldwide.
The company serves a diverse customer base that includes insurance companies, government entities, municipalities, and corporations. Verisk's reputation for excellence in the industry has been cultivated on the bedrock of its comprehensive and reliable data-enabled decision-making solutions that work across different sectors and market levels.
Verisk operates through two segments: Decision Analytics and Risk Assessment. The Decision Analytics segment provides predictive models, decision tools, software, and information systems that facilitate decision-making process. On the other hand, the Risk Assessment segment offers a suite of underwriting support services, such as supplying information based on property-specific data and catastrophe modeling.
Verisk also contributes to environmental sustainability initiatives through its climate risk analytics. This segment of the company helps clients within the insurance and investment sectors assess the financial implications of climate-related risks.
The company firmly believes in collaboration and partnership for growth and has acquired several companies over the years to strengthen its core competencies. Some notable acquisitions include LCI, Sequel, Power Advocate, and G2 Web Services. These acquisitions have significantly expanded Verisk's capabilities in data analytics and predictive modeling, making it one of the most comprehensive data analytics providers in the market today.
Verisk has been consistently recognized for its innovative work. It was named to the Forbes World’s Best Employers list, acknowledged for its excellence in business dealings, corporate policies, and commitment to fostering a diverse and inclusive work environment.
On the technology front, Verisk uses advanced technologies like artificial intelligence (AI), machine learning, and cloud computing to drive its analytics engine – enabling businesses to make more informed risk and business decisions.
Despite competition, VRSK continues to excel and grow in the industry owing to its unique blend of technical and domain expertise, data aggregation capabilities, and long-standing relationships with clients. Its focus on innovation, acquisition, and expansion underpins its growth-oriented business strategy that has set it on a strong growth trajectory for the future.
Verisk maintains a corporate culture of integrity, fostering transparency, and equal opportunity, all contributing significantly to its success in its quest to "Power the future of data".