Archive:Verisk Analytics: Difference between revisions
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==History & Acquisitions== | ==History & Acquisitions== | ||
The | The company's [[Insurance Services Office|Insurance Services Office (ISO)]] subsidiary was created in 1971 through the consolidation of various state, regional, and national rating bureaus for various lines of [[Property insurance|property/casualty insurance]].<ref name=AR /> ISO helps insurers with product development, underwriting, and rating. In 2008, Verisk Analytics was established to serve as the parent holding company of ISO. 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> | ||
Since 2000, the company has acquired about 40 new businesses, which have helped broaden its product offerings. In 2002, it expanded its decision analytics business with the acquisition of [[AIR Worldwide]], a catastrophe modeling firm.<ref>[http://www.verisk.com/press-releases-verisk/2002/iso-acquires-air-to-deliver-new-decision-making-tools-as-insurers-and-reinsurers-face-increasing-ext.html "ISO ACQUIRES AIR TO DELIVER NEW DECISION-MAKING TOOLS AS INSURERS AND REINSURERS FACE INCREASING EXTREME-EVENT RISK"], Verisk Analytics, May 14, 2002. Accessed July 30, 2015.</ref> In 2004, it entered the healthcare market by acquiring several businesses, through which it offers analytical and reporting systems for health insurers, provider organizations, and self-insured employers. In 2006, the company expanded in the insurance claims sector with the acquisition of Xactware, a provider of estimating software for building repair and construction.<ref>Staff. [http://www.insurancejournal.com/news/national/2006/08/14/71425.htm "ISO Acquires Xactware"], ''Insurance Journal'', August 14, 2006. Accessed September 2, 2013. "ISO has acquired the assets of Xactware, Inc., a provider of estimation software and services for the property insurance, remodeling and restoration industries."</ref> 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> | Since 2000, the company has acquired about 40 new businesses, which have helped broaden its product offerings. In 2002, it expanded its decision analytics business with the acquisition of [[AIR Worldwide]], a catastrophe modeling firm.<ref>[http://www.verisk.com/press-releases-verisk/2002/iso-acquires-air-to-deliver-new-decision-making-tools-as-insurers-and-reinsurers-face-increasing-ext.html "ISO ACQUIRES AIR TO DELIVER NEW DECISION-MAKING TOOLS AS INSURERS AND REINSURERS FACE INCREASING EXTREME-EVENT RISK"], Verisk Analytics, May 14, 2002. Accessed July 30, 2015.</ref> In 2004, it entered the healthcare market by acquiring several businesses, through which it offers analytical and reporting systems for health insurers, provider organizations, and self-insured employers. In 2006, the company expanded in the insurance claims sector with the acquisition of Xactware, a provider of estimating software for building repair and construction.<ref>Staff. [http://www.insurancejournal.com/news/national/2006/08/14/71425.htm "ISO Acquires Xactware"], ''Insurance Journal'', August 14, 2006. Accessed September 2, 2013. "ISO has acquired the assets of Xactware, Inc., a provider of estimation software and services for the property insurance, remodeling and restoration industries."</ref> 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> | ||