Verisk Analytics Strengths, Domain Expertise, and Key Differentiators
Verisk is a data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide innovations that may be integrated into customer workflows. Verisk offers predictive analytics and decision-support solutions to help customers in rating, underwriting, claims, catastrophe and weather risk, natural resources intelligence, economic forecasting, and many other fields.
Verisk Analytics Recent Developments
Verisk, a global data analytics provider, has been making strategic moves to address the industry's demand for speed and efficiency. In November 2021, they launched a cloud-based version of ISO Electronic Rating ContentTM (ERCTM), significantly reducing the time and effort for commercial lines insurers in updating rating content. In August 2020, the introduction of the EHR Triage Engine showcased their commitment to efficiency, utilizing data from electronic health records to expedite life insurance coverage applications.
July 2020 marked the launch of ISO ClaimSearch accelerator for Guidewire ClaimCenter v10, demonstrating Verisk's dedication to real-time claim analysis. The same period saw the introduction of Life Risk Navigator, a cloud-based stochastic risk modeling platform, showcasing cutting-edge analytics driven by Verisk’s Life Risk Models.
Verisk Analytics Mergers and Acquisitions (M&A) Activities
In January 2024, Verisk completed the acquisition of Rocket Enterprise Solutions GmbH, a Germany-based insurtech specializing in the property claims sector. Building on its initial strategic investment in 2022, this acquisition strengthens Verisk’s presence in Europe and supports its mission to help insurers and claims service providers enhance the claims experience through more comprehensive data and advanced technology solutions.
In January 2022, Verisk announced the sale of its 3E business to New Mountain Capital for a potential aggregate cash consideration of up to $950 million, underlining strategic focus and financial flexibility. Over the past couple of years, Verisk has undertaken approximately 10 acquisitions, reinforcing its position in the market. Notable acquisitions include Genscape in August 2019, enhancing Wood Mackenzie’s sector intelligence in energy data.
Verisk Analytics Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Verisk Analytics applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Verisk Analytics and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Verisk Cloud, customers.
Verisk Analytics Overview
545 Washington Boulevard
Jersey City, NJ, 07310-1686, United States
1 201-469-3000
https://www.verisk.com/
Ownership: - NASDAQ: VRSK
Number of Employees: 7800
Functional Markets: Analytics and BI, CRM, ERP Services and Operations,
Key Verticals: Aerospace and Defense, Banking and Financial Services, Construction and Real Estate, Government, Insurance, Life Sciences, Manufacturing, Oil Gas Chemicals, Professional Services, Retail, Transportation, Utility,
Verisk Analytics Key Enterprise and Cloud Applications
Verisk Cloud,
Verisk Analytics Revenues, $M:
| Type/Year | 2023 | 2024 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Verisk Analytics Revenue Breakdown By Type, $M:
Verisk Analytics Enterprise Applications Revenues By Functional Markets, $M:
Verisk Analytics Enterprise Applications Revenues By Verticals, $M:
Verisk Analytics Revenues By Region, $M
| Region | % of Total Revenues | 2024 Total Revenues, $M | 2024 Enterprise Applications Revenues, $M | 2024 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Verisk Analytics Direct vs Indirect sales
| Type | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Verisk Analytics Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Verisk Analytics Customers
No. of Verisk Analytics Customers: x
No. of Verisk Analytics Enterprise Applications Customers: x
No. of Verisk Analytics Cloud Customers: x
No. of Verisk Analytics Cloud Subscribers: x
Verisk boasts an impressive clientele, including the top 100 U.S. property/casualty insurers, major global chemical manufacturers, and leading energy providers. Reference customers like Sunrun and Mutual of Omaha Insurance Company highlight their wide industry reach.
Verisk Analytics Market Opportunities, M&A and Geo Expansions
Verisk is strategically expanding its global footprint and embracing technologies like Cloud, IoT, AI, and ML. In October 2021, it acquired ACTINEO to enhance digital claims management across Europe. Earlier, in 2020, Verisk opened a data science hub in Krakow and expanded tech teams in India and Spain. That same year, it launched OneXperience for commercial insurance, enabling real-time property surveys to streamline underwriting.
Verisk Analytics Risks and Challenges
While Verisk stands at the forefront of innovation, potential risks include dependency on the U.S. P&C insurance industry. A downturn or a reluctance to adopt their solutions could impact revenues.
Verisk Analytics Ecosystem, Partners, Resellers and SI
In February 2020, Verisk launched a life insurance underwriting analytics platform with SCOR, aimed at accelerating underwriting and enhancing the customer experience. Key partners include Chef, Duck Creek Technologies, and Guidewire Software.
In February 2019, Verisk partnered with SAP SE and acquired its Content as a Service (CaaS) business, integrating it into Verisk 3E to strengthen its product compliance and EHS capabilities.
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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