Verisk Offers Insurers and Lenders Four-Month, Complimentary Access to Coverage Verifier-Verification as a Service During COVID-19 Pandemic

May 27, 2020 / 2 min read

JERSEY CITY, N.J., May 27, 2020 — Verisk (Nasdaq:VRSK), a leading data analytics provider, is offering four months of complimentary access during the COVID-19 pandemic to Coverage Verifier-Verification as a Service (CV-VaaS), a new, digital platform that delivers insurance information lenders need to process loans with increased efficiency.

Instead of spending time and resources calling, faxing, or e-mailing insurers to confirm that vehicles or mortgages have the required insurance coverage, lenders can simply enter the borrower’s information into CV-VaaS and quickly receive verification of coverage.

Through the platform, CV-VaaS will enable participating insurers to establish a lender portal to automate and digitize the verification process. CV-VaaS connects Verisk’s Coverage Verifier database and Loan Verifier^TM, a new contributory database that collects lien information in concert with Verisk’s policy and claims databases.

“The effects of the COVID-19 pandemic have placed increased pressure on insurers and lenders to pivot and find tools that help them serve customers with greater efficiency,” said Jeremy Cook, senior vice president of personal lines at Verisk. “The CV-VaaS platform re-imagines an important, behind-the-scenes function, enabling both parties to replace time-consuming manual processes with a fast and easy verification service.”

Lenders and insurers will be able to use CV-VaaS at no charge from June 1 through October 1, 2020. To learn more about CV-VaaS, visit https://www.verisk.com/insurance/products/cv-vaas/.

About Verisk
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.

Contact:
Brett Garrison
Edelman (for Verisk)
917-639-4903
Brett.Garrison@edelman.com