Visualize: Insights that power innovation

Verisk named People's Choice Innovation Vendor of the Year by Insurance Nexus

By Michael Gannon  |  December 10, 2018

Insurance Nexus, a global provider of insights and events for the insurance industry, has named Verisk as its People’s Choice Innovation Vendor of the Year. The award recognizes Verisk as the solution-provider that has demonstrated exceptional innovation within insurance over the past year.

Verisk’s InsurTech solutions are grounded in cutting-edge data management expertise, new technology platforms, and advanced data science methods. Solutions reflect efforts across multiple fields of innovation, including the emerging Internet of Things (IoT) and traditional underwriting, to help boost efficiency and improve the policyholder experience.

 
 

Verisk COO Mark V. Anquillare on InsurTech

Verisk Data Exchange

In IoT, the Verisk Data Exchange™ holds a growing repository of connected-car and other data collected and normalized for a wide range of efficient and customer-focused insurance applications. One of those applications is Verisk’s Instant Notice of Loss (INOL) solution, which connects the customer that has been in an accident with their insurance company, right from the scene of the accident. Insurers can assist the customer initiating the claim and enable the policyholder with services such as: towing, finding a repair shop, rental car, and more.

New workflow solutions

Verisk innovation has also led to new workflow solutions that can make underwriting and buying insurance faster and more efficient. One example is LightSpeed™ Auto, a real-time underwriting platform that leverages multiple sources of information to instantaneously provide bindable quotes in a process that’s easy for applicants.

The innovation award was announced November 28 during the Connected Insurance USA Summit in Chicago.


Michael Gannon is assistant vice president, ISO Marketing.