We are proud to announce that Frost & Sullivan, a global consulting and research firm, has named Verisk as its 2021 Company of the Year, honoring the Verisk Data Exchange™ for outstanding achievement as the North American Telematics Data Exchange Industry Excellence in Best Practices.
“As connected use cases and business models continue to evolve, the Verisk Data Exchange has effectively anticipated the rollout of connected vehicles on a mass-market level and developed a purpose-built platform for auto insurers to benefit at scale.”
— Frost & Sullivan analyst
At Verisk, we're committed to developing innovative solutions that allow insurers to capitalize on new data sources to better assess risk. In 2015, we launched the Verisk Data Exchange to help auto insurers harness telematics insights from connected cars in support of their usage-based insurance (UBI) programs. Since then, we have:
- Grown the Exchange through relationships with leading automakers, including GM, Honda, Hyundai, and Ford–collectively representing nearly 50 percent of U.S. new vehicle sales.
- With consumer consent, amassed nearly 280 billion trip miles of data from over 8 million connected vehicles–the largest telematics dataset of its kind in North America.
- Expanded into the commercial auto insurance market through relationships with Geotab, Omnitracs, and Webfleet.
- Worked with numerous auto insurers, including five top-10 carriers, as well as regionals, and InsurTechs, helping them to launch, grow, and enhance their UBI offerings.
- Developed advanced behavior-based scoring capabilities, allowing insurers to provide safe driving discounts to eligible drivers upfront at point of quote with our flagship DrivingDNA®.
The Frost & Sullivan award recognizes the visionary innovation, performance, and customer impact of the Verisk Data Exchange. It is a culmination of a tremendous multi-disciplinary team effort that brought together experts in insurance, analytics, actuarial science, and engineering from across the globe. We are proud to receive this prestigious honor for pioneering an analytics-driven platform that breaks down silos between industries and delivers tangible benefits that enable value creation for all the stakeholders in this dynamic ecosystem.
Read Frost & Sullivan's report to learn more about what distinguished the Verisk Data Exchange.