Verisk Analytics launching new property data and analytics for UK underwriters
JERSEY CITY, N.J., May 9, 2017 — Verisk Analytics (Nasdaq:VRSK), a leading data analytics provider, is introducing Underwriters Advantage™, a single-source solution providing detailed property information, risk data, and analytics for UK residential and commercial underwriters and brokers. The new solution will be released and featured at BIBA 2017 in Manchester, May 10 and 11.
Verisk will demonstrate the report at its stand, F40, at BIBA 2017, the British Insurance Brokers' Association conference.
"We're responding to the demand for detailed underwriting data and accurate rebuild cost estimates in the United Kingdom," said Anil Vasagiri, senior vice president, Product Management & Strategy, Verisk Insurance Solutions. "This is the first solution that provides brokers and insurers alike with pertinent property profiling information within a single solution—and does it at the click of a button."
Underwriters Advantage provides information on property location, aerial imagery with building outlines, construction and occupancy overviews, an estimated rebuild cost using Verisk's proprietary 360Value® rebuild cost engine, flood zones, and terrorism risk and crime information. Served through a web interface or application program interface (API) or available in batch mode, the solution offers a more complete view of the risks associated with a property.
The core information, already in use with a number of leading insurance organizations, gives a consistent method of scoring for risk, rebuild cost, and the provision of underwriting services for UK residential and commercial properties. It brings together all associated information into one comprehensive solution.
360Value is a highly sophisticated component-based rebuild cost engine available for a full range of commercial and residential properties in the UK, making it the first fully automated rebuild cost solution.
Underwriters Advantage is based on exterior observation of the property, proprietary Verisk data and analytics, and third-party sources. More information can be found at www.verisk.com/globalbur.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, natural resources, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk Analytics 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 Analytics helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk Analytics operates in 27 countries and is a member of Standard & Poor's S&P 500® Index. In 2016, Forbes magazine named Verisk Analytics to its World's Most Innovative Companies list and to its America's Best Large Employers list. Verisk is one of only 14 companies to appear on both lists. For more information, please visit www.verisk.com.
Giuseppe Barone/Erin Bzymek
MWWPR (for Verisk Analytics)