Verisk Analytics Inc
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Industrials : Professional Services | Large Cap Blend
Company profile

Verisk Analytics, Inc. is a data analytics provider serving customers in insurance, natural resources and financial services. The Company operates through two segments: Risk Assessment and Decision Analytics. Its Risk Assessment segment serves its property and casualty insurance customers and focuses on prediction of loss, selection and pricing of risk, and compliance with their reporting requirements in each United States state in which they operate. In the Decision Analytics segment, the Company develops predictive models to forecast scenarios and produce both standard and customized analytics that help its customers manage their businesses, including predicting loss, selecting and pricing risk, detecting fraud before and after a loss event, and quantifying losses. It offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, natural resources intelligence, economic forecasting and various other fields.

Price
Delayed
$187.75
Day's Change
-0.96 (-0.51%)
Bid
--
Ask
--
B/A Size
--
Day's High
190.00
Day's Low
187.39
Volume
(Average)

Today's volume of 416,819 shares is on pace to be in-line with VRSK's 10-day average volume of 638,421 shares.

416,819

Texas Department of Insurance to Deploy Verisk's Mozart Form Composer

9:48 am ET May 12, 2020 (Globe Newswire) Print

Verisk (Nasdaq:VRSK), a leading data analytics provider, announced today that the Texas Department of Insurance (TDI) will be leveraging the machine learning and natural language processing in Verisk's Mozart Form Composer to accelerate the regulatory review of thousands of property/casualty forms filed by insurers each year.

TDI's use of Mozart, Verisk's platform for forms management and product development, is being coordinated with the National Association of Insurance Commissioners (NAIC) and marks an expansion of the market for Mozart - from insurers, brokers, and managing general agents (MGAs) - to insurance regulators.

With Mozart, Texas insurance regulators will be able to streamline the filing intake process and accelerate review of new form filings by analyzing how newly filed wording compares to previously approved wording. They'll also be able to quickly identify and evaluate emerging insurance concepts, such as ridesharing, in newly filed forms. Last year, insurers filed more than 26,000 property/casualty forms with the Texas Department of Insurance.

"Many insurers are appreciating the efficiencies Mozart brings to their operations, and we're excited that the regulatory community will now be able to enjoy many of those same benefits," said Deborah Morris, senior vice president of commercial lines at Verisk. "Mozart enables regulators to boost the speed and efficiency of the filing review process and can help accelerate the approvals that insurers require to meet the needs of the market. This expansion of Mozart into the regulatory space marks a significant development in the platform's evolution and continued growth and could enhance the forms development and approval process for years to come."

To learn more about Mozart, visit www.verisk.com/mozart.

About Verisk

Verisk (Nasdaq:VRSK) is a leading 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 first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.

Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor's S&P 500 Index. In 2018, Forbes magazine named Verisk to its World's Best Employers list. For more information, please visit www.verisk.com.

Contact:

Brett Garrison

Edelman (for Verisk)

917-639-4903

Brett.Garrison@edelman.com

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