The surplus for the private U.S. property/casualty insurance industry dropped by $75.9 billion in the first quarter of 2020—its largest-ever quarterly decline—as the stock market suffered a major downturn, according to Verisk, a leading data analytics provider, and the American Property Casualty Insurance Association (APCIA). Since then, the COVID-19 pandemic has continued to affect many… Continue reading P&C Industry Suffered Largest-Ever Drop in Surplus in the 1Q 2020
Tag: Verisk
Verisk Launches Life Risk Navigator Software Platform
Verisk, a leading data analytics provider, today announced the release of Life Risk Navigator™, an innovative, cloud-based stochastic risk modeling platform that offers in-depth portfolio analytics which can enhance risk selection, quantify changes in mortality rate, improve hedging strategies, and drive better financial decision-making. The cutting-edge analytics provided by Life Risk Navigator are driven by… Continue reading Verisk Launches Life Risk Navigator Software Platform
Verisk Expands Inspection Collaboration Tool, OneXperience, to Commercial Lines
Verisk, a leading data analytics provider, announced today the expansion of its new InsurTech solution OneXperience™ into commercial insurance. This expansion will enable agents and businesses to engage and closely collaborate with insurers by sharing video surveys of commercial properties in real time, helping insurers and their customers accelerate the underwriting process. “Commercial property insurers… Continue reading Verisk Expands Inspection Collaboration Tool, OneXperience, to Commercial Lines
Verisk to Acquire Property Data Provider BuildFax
Verisk, a leading data analytics provider, announced today it has signed a definitive agreement to acquire BuildFax, a provider of property condition and history data, from its shareholders. The majority shareholder of BuildFax is DMGT. BuildFax will become part of ISO, a Verisk business, and will enhance ISO’s existing property data and analytics. BuildFax uses… Continue reading Verisk to Acquire Property Data Provider BuildFax
Verisk Launches A-PLUS Commercial
Verisk, a leading data analytics provider, announced today the launch of A-PLUS™ Commercial, an InsurTech solution that provides point-of-sale loss runs with detailed claim histories of risks that insurers are looking to underwrite. “In today’s fast-paced market, commercial lines insurers need to make precise underwriting decisions at the time of quote,” said Deborah Morris, senior… Continue reading Verisk Launches A-PLUS Commercial
Women in Insurance Initiative to Embark on Comprehensive Study on the State of Women in the Industry
The Million Women Mentors’ Women in Insurance Initiative (WII) consortium announced today the launch of a data collection project designed to measure and provide insight into issues and opportunities that currently exist for women in the insurance industry. Verisk, a leading data analytics provider and member of the consortium, is leading the data collection. WII… Continue reading Women in Insurance Initiative to Embark on Comprehensive Study on the State of Women in the Industry
Utica National Selects Verisk’s 360Value to Estimate Replacement Costs for Commercial Property and Businessowners Policies
Verisk, a leading data analytics provider, announced that the Utica National Insurance Group has selected 360Value® to estimate replacement costs for commercial property and businessowners policies. With 360Value, Utica National will be able to make insurance-to-value (ITV) decisions for underwriting and policy renewals with greater speed and precision. 360Value uses the same reconstruction cost data… Continue reading Utica National Selects Verisk’s 360Value to Estimate Replacement Costs for Commercial Property and Businessowners Policies