Making Sense of the Verisk Organizational ChangesBy Pat Ryan | September 4, 2012
With the recent branding and organizational changes at Verisk Analytics, I thought it would be a good time to catch up with Verisk Chief Marketing Officer Christopher H. Perini to get his perspective on questions customers have been asking. Here are his responses:
What is Verisk Analytics?
Verisk Analytics is a leading source of information about risk. We offer risk assessment services and decision analytics to professionals in many fields, including property/casualty insurance, healthcare, financial services, government, and supply chain. Verisk is the parent company of ISO, AIR Worldwide, Xactware, Interthinx, Verisk 3E, and their respective subsidiaries. Since October 2009, Verisk Analytics (NASDAQ:VRSK) has been a publicly traded company.
So what’s Verisk Insurance Solutions? And what’s happening to ISO?
In October 2010, we introduced the Verisk Insurance Solutions brand to pull together our property/casualty organizations — ISO, AIR Worldwide, and Xactware — under a single name to reflect the comprehensiveness of our offerings and help us better serve customer needs. Today, ISO is part of Verisk Insurance Solutions. The divisions under the Verisk Insurance Solutions umbrella are:
- ISO Insurance Programs and Analytic Services
- Verisk Insurance Solutions – Underwriting
- Verisk Insurance Solutions – Commercial Property
- Verisk Insurance Solutions – Claims and Crime Analytics
- Innovative Analytics
The new organization creates an environment that provides enhanced support for customers’ actuarial, product development, underwriting, and claims operations. Now, customers can more easily tap into our full range of offerings across all divisions and combine and customize our products and services to meet specific needs. Our sales professionals, technical experts, and consultants are ready to help customers select the best combination of services and make superior pricing, underwriting, and claims decisions.
Can you explain the relationship between ISO, AIR Worldwide, and Xactware?
ISO, AIR Worldwide, and Xactware work together to develop new services or enhance existing ones. While the three company brands remain prominent in the property/casualty market, we consider ourselves one company meeting the needs of a diverse and challenging marketplace.
What do these changes mean to customers?
With these organizational changes, we’re forming dedicated teams — each focused on serving the needs of a well-defined group of professionals in our customers’ enterprises. Each team will offer a broad range of products and services to help customers effectively manage property/casualty risk.
We’ve instituted the organizational changes to help us serve customers’ evolving business needs with superior data resources, analytics, and programs. We’ll continue to draw upon our vast experience in data management and security and our expertise in predictive modeling. We’ll continue to analyze data and present information in a format customers can use. And we’ll take advantage of advanced technology tools that integrate into their workflow.
Changing our look and using the Verisk Insurance Solutions brand does not change the products and services our customers have come to rely on, the way they order and access those products, or the terms of their contracts.
What’s the best way to keep up with the new changes at Verisk?
We’ll continue to provide updates in the coming months as we fully transition to the new brand, and I’ll communicate with customers about our plans. Also, interested parties can stay connected with Verisk through our weekly web seminars, blogs, and RSS feeds as well as social media. Or they can send questions and feedback to email@example.com
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