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Verisk is a leading data analytics and technology provider primarily serving the insurance industry, offering solutions that include predictive analytics and decision support for rating, underwriting, claims, catastrophe, and weather risk, among other fields . These solutions are integrated into client workflows to help them make better decisions about risk and improve operating efficiency . Verisk's business is structured around providing statistical, actuarial, and underwriting data, with a focus on the U.S. property and casualty (P&C) insurance industry, and also offers solutions for fraud detection, catastrophe modeling, and loss quantification . The company's revenue model is predominantly subscription-based, accounting for approximately 80% of its revenues, with the remaining 20% being transactional .
- Underwriting Solutions - Provides forms, rules, and loss costs to help insurers define coverages, issue policies, and ensure compliance with regulatory requirements across various lines of insurance .
- Predictive Analytics and Decision Support - Offers tools for rating, underwriting, claims, catastrophe, and weather risk to enhance decision-making and operational efficiency .
- Property Estimating Solutions - Delivers comprehensive tools for property assessment and valuation, aiding in accurate and efficient property claims processing .
- Extreme Events Modeling - Specializes in catastrophe modeling and loss quantification to help clients assess and manage risks associated with extreme events .
- Fraud Detection Solutions - Provides advanced analytics to identify and mitigate fraudulent activities within the insurance sector .
- International and New Market Solutions - Expands capabilities into international markets and new areas such as life insurance and annuities .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Elizabeth D. Mann Executive | Executive Vice President and CFO | President of the Board of Trustees of the Winston Churchill Scholarship Foundation of the United States | Elizabeth D. Mann has been the CFO since September 2022, focusing on financial strategy and capital management. She previously held roles at S&P Global and Goldman Sachs. | |
Kathy Card Beckles Executive | Executive Vice President and Chief Legal Officer | Board Member of Nasdaq’s U.S. exchange subsidiaries | Kathy Card Beckles has been the CLO since April 2021, leading legal, governance, compliance, and audit functions. She previously held roles at JPMorgan Chase. | |
Lee M. Shavel Executive | Chief Executive Officer and President | Board Member at FactSet Research Systems, Inc. (NYSE: FDS) | Lee M. Shavel joined Verisk in November 2017 as CFO, became CEO in May 2022, and President in January 2023. He has played a significant role in shaping Verisk's financial strategy and operations. | View Report → |
Nick Daffan Executive | Executive Vice President and CIO | None | Nick Daffan has been with Verisk since 2000, serving as CIO since July 2015 and EVP since December 2018. He oversees technology strategy and operations. | |
Sunita Holzer Executive | Chief Human Relations Officer | Board Member and Chair of the Compensation Committee for South Jersey Industries (NYSE: SJI) | Sunita Holzer has been CHRO since August 2021, with extensive HR leadership experience across various industries. | |
Bruce Hansen Board | Independent Board Chair | Director at LivePerson, Inc. (NASDAQ: LPSN) and Mitek Systems, Inc. (NASDAQ: MITK) | Bruce Hansen has been a director since 2015 and Independent Board Chair since May 2022. He has extensive experience in big data, AI/analytics, and fintech. | |
Gregory Hendrick Board | Independent Director | CEO of Vantage Group, Board of Governors at St. John’s University | Gregory Hendrick has been a director since April 2024, with a distinguished career in the insurance and reinsurance industry. | |
Jeffrey Dailey Board | Director | Board Member of The Institutes and Advisory Board Member at Team Rubicon | Jeffrey Dailey has been a director since 2022, with extensive experience in the insurance industry. | |
Kathleen A. Hogenson Board | Independent Director | Director at First Quantum Minerals Ltd. (XTSE: FM) and Tamarack Valley Energy (XTSE: TVE) | Kathleen A. Hogenson has been a director since 2016, with over 30 years of experience in the energy sector. | |
Kimberly S. Stevenson Board | Director | Director at Mitek Systems (NASDAQ: MITK) and Board Member at Ambiq Micro | Kimberly S. Stevenson has been a director since May 2022, with deep expertise in technology and digital innovation. | |
Olumide Soroye Board | Independent Director | President and CEO of Intelligent Operating Solutions at Fortive Corporation | Olumide Soroye has been a director since August 2022, with a strong background in technology and data-driven solutions. | |
Samuel G. Liss Board | Independent Director | Principal of WhiteGate Partners LLC, Director at Argo Group International Holdings, Ltd. (NYSE: ARGO) | Samuel G. Liss has been a director since 2009, with extensive management and operational experience in the insurance business. | |
Therese M. Vaughan Board | Director | Director at West Bancorporation (NASDAQ: WTBA) and American International Group (AIG) | Therese M. Vaughan has been a director since 2013, with extensive knowledge of the insurance industry. | |
Vincent K. Brooks Board | Director | Director at Jacobs Solutions Inc. (NYSE: J) and Diamondback Energy (NASDAQ: FANG) | Vincent K. Brooks has been a director since 2020, bringing leadership and risk management experience. | |
Wendy Lane Board | Independent Director | Director at Envestnet (NYSE: ENV) | Wendy Lane has been a director since 2022, with over 30 years of board experience and 15 years in investment banking. |
- Given the decline in transactional revenues this quarter and the ongoing transition from transactional to subscription models, can you provide more clarity on how this shift is impacting overall revenue growth and what measures you're taking to mitigate any negative effects on future quarters?
- With indications that insurance pricing may peak in 2025 and considering that 20-25% of your revenue comes from contracts tied to net written premiums with a two-year lag, how do you plan to sustain revenue growth if the market enters a softer cycle?
- You mentioned being at the bottom of your target leverage range and actively pursuing M&A opportunities; can you elaborate on specific areas or businesses you're targeting for acquisitions, especially in niches like life insurance where you've seen double-digit growth, and how you assess integration risks?
- While you highlighted an 8% growth on a two-year stack exceeding historical rates, can you break down the specific contributions from pricing increases versus organic demand, and discuss the sustainability of this growth amid competitive pressures and potential market saturation in your core lines?
- With significant investments in new products like the Experience Index and the Core Lines Reimagine initiative, how are you measuring the return on these investments, and what confidence can you provide that these innovations will drive meaningful revenue growth given evolving client needs and technological advancements in the industry?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
American International Group (AIG) | Data and analytics solutions | All | Contributes approximately 1% of consolidated revenue in 2024 |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Rocket Enterprise Solutions GmbH | 2024 | Acquired on January 8, 2024, for a net cash purchase price of $10.1 million (including $2.2 million deferred and $0.3 million holdback); the deal was aimed at enhancing Verisk’s property claims and underwriting technology in Germany and Austria and was integrated into its claims category with minimal impact on overall operations. |
Krug Sachverständigen GmbH | 2023 | Completed on April 20, 2023 with a net cash purchase price of approximately $43.3 million (including $3.8 million in indemnity escrows); the acquisition expanded Verisk’s motor claims solutions in Germany, adding key cash, receivables and significant goodwill to its European claims and casualty offerings. |
Mavera Holding AB | 2023 | Finalized on February 1, 2023 for $28.3 million (with $4.2 million in indemnity escrows); this acquisition of a Sweden-based InsurTech firm was aimed at expanding Verisk’s tech and analytics capabilities in personal injury claims management across Europe, although it was immaterial to the quarterly earnings disclosures. |
Whitespace Software Limited | 2022 | In 2022, Verisk acquired an additional 16% stake for $8.2 million, bringing its total to 67%, with plans to acquire the remaining 33% in equal proportions over the next two years based on a fixed revenue multiple and free cash flow adjustments; the investment strengthens strategic ownership in the software provider. |
Opta Information Intelligence Corp. | 2022 | Acquired on March 1, 2022 for a net cash purchase price of $217.5 million (including $0.8 million in indemnity escrows); the acquisition bolstered Verisk’s Canadian market presence by integrating property intelligence and technology solutions into its underwriting & rating category, with significant allocations to intangible assets and goodwill. |
Infutor Data Solutions, LLC | 2022 | Completed on February 11, 2022 with a net cash purchase price of $220.7 million (excluding working capital adjustments and including a contingent earn‐out of up to $25.0 million); this deal enhanced Verisk’s identity resolution and consumer intelligence capabilities for its underwriting & rating category, with detailed allocations for intangibles, goodwill, and other assets. |
Recent press releases and 8-K filings for VRSK.
- Verisk Analytics, Inc. has entered into an Underwriting Agreement to sell $700,000,000 aggregate principal amount of its 5.250% Senior Notes due 2035, with the notes registered under its shelf registration statement.
- The notes will bear interest at 5.250% per annum, with payments beginning on September 15, 2025, and include detailed redemption provisions under a supplemental indenture executed on March 11, 2025.