Archive:Verisk Analytics: Difference between revisions
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{{Short description|American data analytics and risk assessment firm}} | {{Short description|American data analytics and risk assessment firm}}<noinclude></noinclude> | ||
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{{Infobox company | {{Infobox company | ||
| name = Verisk Analytics, Inc. | | name = Verisk Analytics, Inc. | ||
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==History== | ==History== | ||
The company's [[Insurance Services Office]] (ISO) subsidiary was created in 1971 through the consolidation of various [[Property insurance|property/casualty insurance]] bureaus.<ref name=AR /> | |||
The company's [[ | |||
In 2009, Verisk completed its IPO and became a publicly traded company.<ref>via ''[[Dow Jones Newswires]]'' [https://online.wsj.com/article/BT-CO-20091006-713810.html "Verisk Analytics' 85.25M-Share IPO Priced At $22 Each"], ''[[The Wall Street Journal]]'', October 6, 2009. Accessed October 8, 2009.</ref> | In 2009, Verisk completed its IPO and became a publicly traded company.<ref>via ''[[Dow Jones Newswires]]'' [https://online.wsj.com/article/BT-CO-20091006-713810.html "Verisk Analytics' 85.25M-Share IPO Priced At $22 Each"], ''[[The Wall Street Journal]]'', October 6, 2009. Accessed October 8, 2009.</ref> The firm did not raise any funds for itself in the IPO, which was designed to provide an opportunity for the firm's casualty and property insurer owners to sell some or all of their holdings and to provide a market price for those retaining their shares. The 2009 IPO was priced at $22 per share for 85.25 million shares owned by its shareholders, including [[American International Group]], The Hartford and Travelers, making it the largest since the 2008 IPO for [[Visa Inc.]] In an action described by investment research company [[Morningstar, Inc.|Morningstar]] as a "vote of confidence" in Verisk, [[Berkshire Hathaway]] was the only company among the firm's largest shareholders that did not sell any of its stock in the October 2009 IPO.<ref name="Reuters2009October6WahbaPhil ">{{cite news|last1=Wahba|first1=Phil |title=UPDATE 2-Verisk IPO raises $1.88 bln, prices above range|url=https://www.reuters.com/article/verisk-idUSN0533161120091007|access-date=6 July 2016|agency=Thomson Reuters|issue=Fund News|publisher=Reuters|date=6 October 2009|location=New York, N.Y., United States|language=en}}</ref> | ||
==Mergers and acquisitions== | |||
In 2010, Verisk acquired 3E Company, a provider of services that help customers comply with government-mandated environmental health and safety requirements.<ref name="Reuters2010December7ShankarArchana">{{cite news|last1=Shankar|first1=Archana|last2=Kakkrakandy|first2=Jarshad|title=Verisk to buy privately held 3E for $110 million|url=https://www.reuters.com/article/us-verisk/verisk-to-buy-privately-held-3e-for-110-million-idUSTRE6B633O20101207|access-date=30 July 2015|agency=Thomson Reuters|issue=Deals|publisher=Reuters|date=7 December 2010|location=Bangalore|language=en}}</ref> | |||
In 2012, Verisk acquired Argus & Advisory Services, a provider of competitive benchmarking, analytics, and customized services to financial institutions and regulators in North America, Latin America, and Europe.<ref name="BloombergBusinessweek2012August8BuhayarNoah">{{cite news|last1=Buhayar|first1=Noah|last2=Norton|first2=Steven|title=Verisk Says Build It Once, Sell It Many Times After Deal|url=https://www.bloomberg.com/news/articles/2012-08-08/verisk-says-build-it-once-sell-it-many-times-after-deal|access-date=30 July 2015|agency=Bloomberg L.P.|issue=Deals|publisher=Bloomberg Businessweek|date=8 August 2012|location=United States|language=en}}</ref> Also in 2012, Verisk acquired Aspect Loss Prevention, a loss prevention software developer for retail, entertainment, and food industries;<ref>Staff. [https://finance.yahoo.com/news/verisk-analytics-acquires-aspect-loss-140216970.html "Verisk Analytics acquires Aspect Loss Prevention for $8M"], [[Yahoo! Finance]], June 15, 2012. Accessed July 30, 2015.</ref> and MediConnect Global, Inc., which develops software for medical records aggregation and analysis.<ref name="MarketWatch2012March24FitzgeraldDrew">{{cite news|last1=Fitzgerald|first1=Drew|title=Verisk Analytics to buy MediConnect for $348.6M|url=https://www.marketwatch.com/story/verisk-analytics-to-buy-mediconnect-for-3486m-2012-03-24|access-date=30 July 2015|agency=Dow Jones & Company Inc|issue=Stocks|publisher=MarketWatch|date=24 March 2012|location=United States|language=en}}</ref> | |||
In 2014, Verisk acquired [[Maplecroft]], a provider of global risk analytics and advisory services,<ref name="BloombergBusinessweek2014December8CaoJing">{{cite news|last1=Cao|first1=Jing|title=Verisk Buys U.K.'s Maplecroft for Geopolitical Risk Analytics|url=https://www.bloomberg.com/news/articles/2014-12-08/verisk-buys-u-k-s-maplecroft-for-geopolitical-risk-analytics|access-date=30 July 2015|agency=Bloomberg L.P.|publisher=Bloomberg Businessweek|date=8 December 2014|location=United States|language=en}}</ref> and Dart, a provider of benchmarking financial services for companies operating in Australia, New Zealand, and other Asia-Pacific markets.<ref>{{Cite web|url=https://www.sec.gov/Archives/edgar/data/1442145/000144214516000057/vrsk10k12312015.htm|title=Verisk Analytics FORM 10-K for End of 2015 Fiscal Year|website=SEC|access-date=2020-04-26}}</ref> Then in 2015, Verisk acquired [[Wood Mackenzie]], a data analytics and commercial intelligence company for energy, chemicals, metals, and mining industries, in a deal valued at $2.8 billion.<ref>Kent, Sarah. [https://www.wsj.com/articles/verisk-analytics-to-buy-wood-mackenzie-for-2-8-billion-1425981462 "Verisk Analytics to Buy Wood Mackenzie for $2.8 Billion; Acquisition of energy consultancy boosts U.S. company’s international exposure"], ''[[The Wall Street Journal]]'', March 10, 2015. Accessed July 30, 2015.</ref> | |||
Verisk acquired PowerAdvocate, a provider of data analytics and consulting services for the utilities and oil & gas industries, in 2017 for approximately $280 million.<ref>Zacks Equity Research. [https://www.nasdaq.com/article/verisk-buys-poweradvocate-to-boost-energy-sector-presence-cm885341 "Verisk Buys PowerAdvocate to Boost Energy Sector Presence"], ''[[Nasdaq]]'', December 01, 2017.</ref> In August 2017, Verisk acquired Sequel, an insurance and [[reinsurance]] software specialist based in London.<ref>{{Cite web |last=Evans |first=Steve |date=2017-08-21 |title=Verisk acquires re/insurance software specialist Sequel - Reinsurance News |url=http://www.reinsurancene.ws/verisk-acquires-reinsurance-software-specialist-sequel/ |access-date=2025-12-28 |website=ReinsuranceNe.ws |language=en}}</ref> Verisk also currently owns and operates Atmospheric and Environmental Research (AER), a research agency headquartered in [[Lexington, Massachusetts]].<ref>[http://www.verisk.com/insurance/products/atmospheric-and-environmental-research.html "Atmospheric and Environmental Research"] {{Webarchive|url=https://web.archive.org/web/20170818012742/http://www.verisk.com/insurance/products/atmospheric-and-environmental-research.html |date=2017-08-18 }}, ''Verisk Analytics''. Accessed August 17, 2017.</ref> AER conducts environmental studies with a focus on weather and climate research in order to provide risk assessment and analysis for various clients such as [[National Oceanic and Atmospheric Administration|NOAA]], [[National Aeronautics and Space Administration|NASA]], and the [[United States Armed Forces]].<ref>[http://www.aer.com/about-us "About Us"], Atmospheric and Environmental Research. Accessed August 17, 2017.</ref> | |||
In 2020, Verisk acquired Jornaya,<ref>{{Cite web |title=Verisk to Acquire Behavioral Data and Intelligence Vendor Jornaya |url=https://iireporter.com/verisk-to-acquire-behavioral-data-and-intelligence-vendor-jornaya/ |access-date=2025-12-28 |website=Insurance Innovation Reporter }}</ref> a consumer behavioral data provider, Infutor,<ref>{{Cite web |last=Hercher |first=James |date=2022-02-24 |title=Verisk Buys Infutor For $225 Million To Add Marketing Services To Consumer Data Business |url=https://www.adexchanger.com/ad-exchange-news/verisk-buys-infutor-for-225-million-to-add-marketing-services-to-consumer-data-business/ |access-date=2025-12-28 |website=AdExchanger |language=en-US}}</ref> an identity resolution and consumer data company, and Contact State, a lead generation platform, to form Verisk Marketing Solutions.<ref>{{Cite web |title=Contact State acquired by Verisk |url=https://www.mpamag.com/uk/mortgage-types/residential/contact-state-acquired-by-verisk/390306 |access-date=2025-12-28 |website=MPA Magazine |language=en}}</ref> | |||
In November 2021, Verisk acquired Data Driven Safety, a public record data aggregation firm that specializes in driver risk assessment in the United States.<ref>{{Cite web |date=2021-11-03 |title=Verisk Acquires Driver Data Company |url=https://www.insurancejournal.com/news/southeast/2021/11/03/640342.htm |access-date=2025-12-28 |website=Insurance Journal |language=en-US}}</ref> | |||
In December 2022, Verisk announced that it had entered into an agreement to acquire Mavera, a Sweden-based insurtech firm that operates a personal injury claims management platform.<ref>Lindner, Linda. [https://www.roi-nj.com/2022/12/27/tech/verisk-to-acquire-sweden-based-insurtech-firm-mavera/ "Verisk to acquire Sweden-based insurtech firm Mavera"], ROI-NJ.com, December 27, 2022. Accessed December 28, 2022. "Verisk said Friday it will acquire Mavera, a Sweden-based insurtech firm with a strong regional presence and established customer base for its personal injury claims management platform."</ref> In the same year, Verisk also acquired Opta, a Canadian provider of property intelligence and innovative technology solutions, owner of [[Fire Underwriters Survey|Fire Underwrriters Survey]].<ref>{{Cite web |title=Verisk Acquires Canadian Property Intelligence Provider Opta |url=https://iireporter.com/verisk-acquires-canadian-property-intelligence-provider-opta/ |access-date=2025-12-28 |website=Insurance Innovation Reporter }}</ref><ref>{{Cite web |date=2022-03-01 |title=Verisk Acquires Opta |url=https://www.verisk.com/company/newsroom/verisk-acquires-opta-canadas-leading-provider-of-property-intelligence-and-technology-solutions/ |access-date=2026-10-06 |website=www.verisk.com |language=en-US}}</ref> It also acquired Pruvan, a provider of field-to-office management solutions for property preservation and construction professionals.<ref>{{Cite web |date=2022-05-18 |title=Verisk Analytics, Inc. acquired Pruvan, Inc. |url=https://www.marketscreener.com/quote/stock/VERISK-ANALYTICS-INC-5628469/news/Verisk-Analytics-Inc-acquired-Pruvan-Inc-40496056/ |access-date=2025-12-28 |website=MarketScreener |language=en-US}}</ref> Verisk also sold its financial services business to TransUnion for $515 million USD and<ref>{{Cite web |title=Verisk to sell financial services business |url=https://www.insurancebusinessmag.com/us/news/technology/verisk-to-sell-financial-services-business-326390.aspx |access-date=2025-12-21 |website=Insurance Business Magazine |language=en}}</ref> sold Wood Mackenzie to [[Veritas Capital]] for $3.1 billion USD in the same year.<ref>{{Cite news |last=Thomas |first=Lauren |date=2022-10-31 |title=Verisk to Sell Energy-Analytics Unit in $3.1 Billion Deal |url=https://www.wsj.com/articles/verisk-nears-deal-to-sell-energy-analytics-unit-11667190317 |access-date=2025-12-21 |work=Wall Street Journal |language=en-US |issn=0099-9660}}</ref><ref>{{Cite news |title=Verisk to sell Wood Mackenzie unit to PE firm for $3.1 bln |url=https://www.reuters.com/markets/commodities/verisk-sell-wood-mackenzie-unit-pe-firm-31-bln-2022-10-31/ |archive-url=https://web.archive.org/web/20221229034209/https://www.reuters.com/markets/commodities/verisk-sell-wood-mackenzie-unit-pe-firm-31-bln-2022-10-31/ |archive-date=2022-12-29 |access-date=2025-12-21 |work=Reuters |language=en-US}}</ref> | |||
In 2025, Verisk acquired Nasdaq Risk Modelling for Catastrophes, a [[Software as a service|SaaS]] platform where specialized model partners make their models, hazard data and analytics available to the industry to help assess and address the global insurance protection gap,<ref>{{Cite web |date=2025-04-02 |title=Verisk Buy of Nasdaq Subsidiary Gains Access to Hundreds of Catastrophe Models |url=https://www.insurancejournal.com/news/national/2025/04/02/818050.htm |access-date=2025-12-28 |website=Insurance Journal |language=en-US}}</ref> and SuranceBay, a provider of producer licensing, onboarding, appointment and compliance solutions for the life and annuity industry.<ref>{{Cite web |title=Verisk to Acquire SuranceBay for $162.5 Million |url=https://iireporter.com/verisk-to-acquire-surancebay-for-162-5-million/ |access-date=2025-12-28 |website=Insurance Innovation Reporter }}</ref> | |||
==References== | ==References== | ||
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| google = VRSK:NASDAQ | | google = VRSK:NASDAQ | ||
}} | }} | ||
{{S&P 500 companies}} | {{S&P 500 companies}} | ||
Latest revision as of 21:39, 28 October 2026
Template:Short description Template:Infobox company
Verisk Analytics, Inc. is an American multinational data analytics and risk assessment firm based in Jersey City, New Jersey. The company's services include fraud prevention, actuarial science, insurance coverage, fire protection, catastrophe and weather risk, and data management.
The company was privately held until an initial public offering on October 6, 2009, which raised $1.9 billion, making it the largest IPO in the United States for the year.[1]
History
The company's Insurance Services Office (ISO) subsidiary was created in 1971 through the consolidation of various property/casualty insurance bureaus.[2]
In 2009, Verisk completed its IPO and became a publicly traded company.[3] The firm did not raise any funds for itself in the IPO, which was designed to provide an opportunity for the firm's casualty and property insurer owners to sell some or all of their holdings and to provide a market price for those retaining their shares. The 2009 IPO was priced at $22 per share for 85.25 million shares owned by its shareholders, including American International Group, The Hartford and Travelers, making it the largest since the 2008 IPO for Visa Inc. In an action described by investment research company Morningstar as a "vote of confidence" in Verisk, Berkshire Hathaway was the only company among the firm's largest shareholders that did not sell any of its stock in the October 2009 IPO.[4]
Mergers and acquisitions
In 2010, Verisk acquired 3E Company, a provider of services that help customers comply with government-mandated environmental health and safety requirements.[5]
In 2012, Verisk acquired Argus & Advisory Services, a provider of competitive benchmarking, analytics, and customized services to financial institutions and regulators in North America, Latin America, and Europe.[6] Also in 2012, Verisk acquired Aspect Loss Prevention, a loss prevention software developer for retail, entertainment, and food industries;[7] and MediConnect Global, Inc., which develops software for medical records aggregation and analysis.[8]
In 2014, Verisk acquired Maplecroft, a provider of global risk analytics and advisory services,[9] and Dart, a provider of benchmarking financial services for companies operating in Australia, New Zealand, and other Asia-Pacific markets.[10] Then in 2015, Verisk acquired Wood Mackenzie, a data analytics and commercial intelligence company for energy, chemicals, metals, and mining industries, in a deal valued at $2.8 billion.[11]
Verisk acquired PowerAdvocate, a provider of data analytics and consulting services for the utilities and oil & gas industries, in 2017 for approximately $280 million.[12] In August 2017, Verisk acquired Sequel, an insurance and reinsurance software specialist based in London.[13] Verisk also currently owns and operates Atmospheric and Environmental Research (AER), a research agency headquartered in Lexington, Massachusetts.[14] AER conducts environmental studies with a focus on weather and climate research in order to provide risk assessment and analysis for various clients such as NOAA, NASA, and the United States Armed Forces.[15]
In 2020, Verisk acquired Jornaya,[16] a consumer behavioral data provider, Infutor,[17] an identity resolution and consumer data company, and Contact State, a lead generation platform, to form Verisk Marketing Solutions.[18]
In November 2021, Verisk acquired Data Driven Safety, a public record data aggregation firm that specializes in driver risk assessment in the United States.[19]
In December 2022, Verisk announced that it had entered into an agreement to acquire Mavera, a Sweden-based insurtech firm that operates a personal injury claims management platform.[20] In the same year, Verisk also acquired Opta, a Canadian provider of property intelligence and innovative technology solutions, owner of Fire Underwrriters Survey.[21][22] It also acquired Pruvan, a provider of field-to-office management solutions for property preservation and construction professionals.[23] Verisk also sold its financial services business to TransUnion for $515 million USD and[24] sold Wood Mackenzie to Veritas Capital for $3.1 billion USD in the same year.[25][26]
In 2025, Verisk acquired Nasdaq Risk Modelling for Catastrophes, a SaaS platform where specialized model partners make their models, hazard data and analytics available to the industry to help assess and address the global insurance protection gap,[27] and SuranceBay, a provider of producer licensing, onboarding, appointment and compliance solutions for the life and annuity industry.[28]
References
- ↑ Todd, Susan (8 October 2009). "Verisk Analytics of Jersey City raises $1.9B in stock offering" (in en). New Jersey On-Line LLC. United States: The Star-Ledger. https://www.nj.com/business/2009/10/verisk_analytics_sells_8525_mi.html.
- ↑ Cite error: Invalid
<ref>tag; no text was provided for refs namedAR - ↑ via Dow Jones Newswires "Verisk Analytics' 85.25M-Share IPO Priced At $22 Each", The Wall Street Journal, October 6, 2009. Accessed October 8, 2009.
- ↑ Wahba, Phil (6 October 2009). "UPDATE 2-Verisk IPO raises $1.88 bln, prices above range" (in en). Thomson Reuters. New York, N.Y., United States: Reuters. https://www.reuters.com/article/verisk-idUSN0533161120091007.
- ↑ Shankar, Archana; Kakkrakandy, Jarshad (7 December 2010). "Verisk to buy privately held 3E for $110 million" (in en). Thomson Reuters. Bangalore: Reuters. https://www.reuters.com/article/us-verisk/verisk-to-buy-privately-held-3e-for-110-million-idUSTRE6B633O20101207.
- ↑ Buhayar, Noah; Norton, Steven (8 August 2012). "Verisk Says Build It Once, Sell It Many Times After Deal" (in en). Bloomberg L.P.. United States: Bloomberg Businessweek. https://www.bloomberg.com/news/articles/2012-08-08/verisk-says-build-it-once-sell-it-many-times-after-deal.
- ↑ Staff. "Verisk Analytics acquires Aspect Loss Prevention for $8M", Yahoo! Finance, June 15, 2012. Accessed July 30, 2015.
- ↑ Fitzgerald, Drew (24 March 2012). "Verisk Analytics to buy MediConnect for $348.6M" (in en). Dow Jones & Company Inc. United States: MarketWatch. https://www.marketwatch.com/story/verisk-analytics-to-buy-mediconnect-for-3486m-2012-03-24.
- ↑ Cao, Jing (8 December 2014). "Verisk Buys U.K.'s Maplecroft for Geopolitical Risk Analytics" (in en). Bloomberg L.P.. United States: Bloomberg Businessweek. https://www.bloomberg.com/news/articles/2014-12-08/verisk-buys-u-k-s-maplecroft-for-geopolitical-risk-analytics.
- ↑ "Verisk Analytics FORM 10-K for End of 2015 Fiscal Year". https://www.sec.gov/Archives/edgar/data/1442145/000144214516000057/vrsk10k12312015.htm.
- ↑ Kent, Sarah. "Verisk Analytics to Buy Wood Mackenzie for $2.8 Billion; Acquisition of energy consultancy boosts U.S. company’s international exposure", The Wall Street Journal, March 10, 2015. Accessed July 30, 2015.
- ↑ Zacks Equity Research. "Verisk Buys PowerAdvocate to Boost Energy Sector Presence", Nasdaq, December 01, 2017.
- ↑ Evans, Steve (2017-08-21). "Verisk acquires re/insurance software specialist Sequel - Reinsurance News" (in en). http://www.reinsurancene.ws/verisk-acquires-reinsurance-software-specialist-sequel/.
- ↑ "Atmospheric and Environmental Research" Template:Webarchive, Verisk Analytics. Accessed August 17, 2017.
- ↑ "About Us", Atmospheric and Environmental Research. Accessed August 17, 2017.
- ↑ "Verisk to Acquire Behavioral Data and Intelligence Vendor Jornaya". https://iireporter.com/verisk-to-acquire-behavioral-data-and-intelligence-vendor-jornaya/.
- ↑ Hercher, James (2022-02-24). "Verisk Buys Infutor For $225 Million To Add Marketing Services To Consumer Data Business" (in en-US). https://www.adexchanger.com/ad-exchange-news/verisk-buys-infutor-for-225-million-to-add-marketing-services-to-consumer-data-business/.
- ↑ "Contact State acquired by Verisk" (in en). https://www.mpamag.com/uk/mortgage-types/residential/contact-state-acquired-by-verisk/390306.
- ↑ "Verisk Acquires Driver Data Company" (in en-US). 2021-11-03. https://www.insurancejournal.com/news/southeast/2021/11/03/640342.htm.
- ↑ Lindner, Linda. "Verisk to acquire Sweden-based insurtech firm Mavera", ROI-NJ.com, December 27, 2022. Accessed December 28, 2022. "Verisk said Friday it will acquire Mavera, a Sweden-based insurtech firm with a strong regional presence and established customer base for its personal injury claims management platform."
- ↑ "Verisk Acquires Canadian Property Intelligence Provider Opta". https://iireporter.com/verisk-acquires-canadian-property-intelligence-provider-opta/.
- ↑ "Verisk Acquires Opta" (in en-US). 2022-03-01. https://www.verisk.com/company/newsroom/verisk-acquires-opta-canadas-leading-provider-of-property-intelligence-and-technology-solutions/.
- ↑ "Verisk Analytics, Inc. acquired Pruvan, Inc." (in en-US). 2022-05-18. https://www.marketscreener.com/quote/stock/VERISK-ANALYTICS-INC-5628469/news/Verisk-Analytics-Inc-acquired-Pruvan-Inc-40496056/.
- ↑ "Verisk to sell financial services business" (in en). https://www.insurancebusinessmag.com/us/news/technology/verisk-to-sell-financial-services-business-326390.aspx.
- ↑ Thomas, Lauren (2022-10-31). "Verisk to Sell Energy-Analytics Unit in $3.1 Billion Deal" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/verisk-nears-deal-to-sell-energy-analytics-unit-11667190317.
- ↑ "Verisk to sell Wood Mackenzie unit to PE firm for $3.1 bln" (in en-US). Reuters. https://www.reuters.com/markets/commodities/verisk-sell-wood-mackenzie-unit-pe-firm-31-bln-2022-10-31/.
- ↑ "Verisk Buy of Nasdaq Subsidiary Gains Access to Hundreds of Catastrophe Models" (in en-US). 2025-04-02. https://www.insurancejournal.com/news/national/2025/04/02/818050.htm.
- ↑ "Verisk to Acquire SuranceBay for $162.5 Million". https://iireporter.com/verisk-to-acquire-surancebay-for-162-5-million/.
External links
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