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Businesses Must Be Part of the COVID-19 Solution

Posted by Verisk Chairman and CEO Scott Stephenson on LinkedIn, April 30. Follow Scott on LinkedIn for additional insights.

The last eight weeks have been unlike any most of us have experienced. Our daily rhythms were suddenly behaviors that could put us at risk for contracting or spreading COVID-19. Gloves and a mask became the new norm, joining the cell phones and keys most of us grab as we walk out the door. Our favorite stores, restaurants, and activities quickly shuttered. Working from home took on a whole new meaning with children laughing and dogs barking on video calls, and everyday items like ironing boards doubling as stand-up desks.

If you’re like me, you’ve experienced a range of emotions during this time. I feel deeply for those who’ve been impacted by the virus. I’m grateful for the bravery of the medical community and those working on the front lines. I’m relieved that my loved ones are healthy. And, I admire the perseverance of the Verisk team—some of them facing significant personal challenges but steadfast in their commitment to doing great work for our customers.

The corporate community wants to step up—to be a source for ideas and actions that can jumpstart our economy and prepare businesses to reopen, while ensuring the health and safety of all global citizens.

We feel a deep sense of wanting life to return to normal. And, just as fear can make people freeze, uncertainty in the business world can bring organizations to a standstill. In the last few weeks, though, I’ve observed a clear theme during my conversations with other CEOs and fellow members of the Business Roundtable: Most companies want to be—and recognize the need to be—part of the solution. It’s an element of the commitment we made last year to all stakeholders and one we’re working hard to uphold.

The corporate community wants to step up—to be a source for ideas and actions that can jumpstart our economy and prepare businesses to reopen, while ensuring the health and safety of all global citizens. Like the hundreds of millions of us who are social distancing to slow the spread of the virus, the business community is giving a lot of thought to how companies can speed the world’s recovery.

Ultimately, Verisk decided the best way for us to respond was to play to our strengths—offering data, analytics, and insights to help tackle a risk like no other. We’re striving to make it easier for our employees, customers, and communities to cope with and emerge stronger from this moment by providing resources, such as:

  • A free COVID-19 Projection Tool that makes it easy for communities, businesses, and governments to understand how the outbreak might spread worldwide in the coming weeks so they can plan for what’s around the corner
  • Global insights that show how the pandemic is affecting the energy industry, as well as consumer spending and lending so companies can act confidently, decisively and with a long-term view
  • Access to our chemical safety data so businesses know the cleaning products that are approved for use against COVID-19 and stopping the spread of the virus
  • Intelligence that can protect consumers against illegal online pharmacies, charity fraud, and more by monitoring the retail landscape for scammers
  • An app that lets insurance policyholders remotely interact with claims adjusters so losses can be resolved faster while minimizing risk of potential exposure to the virus
  • An expanded Verisk relief policy that includes civic emergencies in order to ease the pandemic’s financial burden on our 10,000 employees worldwide

We don’t really know how long this moment of uncertainty will last or when we’ll regain our sense of stability, community, and normalcy. But I do know that Verisk will lead with the rest of the business community and be part of the solution. After all, it’s not just about getting one company, industry our city back online. It’s about ensuring that all of us—the entire global community—emerges stronger and more resilient from this world-changing event.