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Verisk Seeks to Grow with Enhanced Insurance Portfolio


Verisk Insurance Solutions, a unit of leading data analytics provider, Verisk Analytics, Inc. VRSK, recently announced collaboration with SAP SE SAP to utilize its cloud-based solution Circular Authority for Insurance for tracking and analyzing Insurance Service Office (ISO) Circulars.

About Circular Authority for Insurance

On Jun 3, 2013, SAP had introduced Circular Authority for Insurance, the market’s first cloud-based solution which was used by the ISO. The Circular Authority for Insurance solution enables insurers plan, implement, and track their filings with state regulators, as well as it helps them stay informed.

The Deal

The addition of this software to Verisk’s product portfolio will add value and functionality for its customers. Verisk and SAP intend to transfer all its existing Circular Authority for Insurance customers to ISO. This software will enable faster access to less complex circular tracking and analysis in the cloud. Verisk’s deep expertise in the field of analytics when collaborated with this highly advanced system will enable its customers to make decisions about their business in a more precise and efficient way.

Verisk’s Objectives

Verisk continues to deliver outstanding data analytics solutions to customers across its core verticals of insurance, natural resources, and financial services. The company’s ability to generate strong cash enables it to meet its deleveraging objectives and invest on behalf of its shareholders.

Headquartered in Jersey City, NJ, Verisk is a data analytics and risk assessment firm with operations spread worldwide. It channelizes proprietary data and industry expertise to offer predictive analytics and decision support solutions to prevent fraud and other mishaps that could occur from the want of updated data.

Verisk currently carries a Zacks Rank #3 (Hold). A couple better-ranked stocks in the same space include LifeLock, Inc. LOCK and National Research Corp. NRCIB, both stocks hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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