Risk assessment company: Verisk Analytics (VRSK) (1971)

Verisk Analytics, Inc. (NASDAQ:VRSK) was founded in 1971 and is headquartered in Jersey City, New Jersey, with 6,170 full-time employees. It is an American data analysis and risk assessment company. Companies that provide risk information to insurance, health care, financial services, government, supply chain, and risk management professionals in the United States and internationally.

Verisk Analytics VRSK Logo

Verisk Analytics (VRSK):

Verisk Analytics provides risk information & risk assessment for insurance industry, medical and health care institutions, financial service institutions, governments, supply chain and risk management professionals in the United States and internationally.

  • Verisk Analytics’ risk assessment business: Provide solutions to P&C insurance customers, and focus on the decision-making process in the company’s risk analysis framework, including loss prediction, risk selection and cost.
  • Verisk Analytics’ solutions: Including industry standard insurance solutions to help P&C insurance companies define insurance projects and issuance policies; actuarial services to help the company’s customers analyze and price their risks; customized services to customers, including assistance in independent insurance The development of solutions, the analysis of their insurance experience, the development of classification systems and rate plans; various other companies decide and supply information to various customers in other markets, including reinsurance and government agencies. The Verisk Analytics solution also includes special property rates and insurance information for individual properties and communities to evaluate and price personal and commercial property insurance, as well as commercial accident liability insurance.
  • Verisk Analytics’ decision-making analysis business: develop predictive models to predict sand table deductions and generate standard and customized analysis to help the company’s customers anticipate loss, selection and pricing risks, detect fraud before and after a loss event, and quantify losses . The business provides fraud detection tools to the P&C insurance industry, benchmark evaluation, scoring solutions, analysis, and customized services to financial service institutions, payment accuracy solutions, and helps health care compensation payers detect fraud, abuse, and overpayments. It also helps companies and governments anticipate and manage climate and weather-related risks.

History of Verisk Analytics (VRSK):

  • In 2002, Verisk Analytics acquired disaster modeling company-AIR Worldwide;
  • In 2004, Verisk Analytics entered the healthcare market through the acquisition of a number of companies, providing analysis and reporting systems for medical insurance companies, organizations and self-insurance employers;
  • In 2006, it entered the insurance claims field by acquiring Xactware, a construction maintenance and construction estimation software company;
  • Before 2009, Verisk Analytics has been a privately held company. Until the company’s IPO on October 6, 2009, it raised 1.9 billion U.S. dollars. It was the largest IPO that year (issued at 22 U.S. dollars and issued 85.25 million shares). It was also Visa in 2008 . The largest IPO of the Inc. issuing branch, shareholders include: American International Group , The Hartford , Travelers , Berkshire Hathaway, etc.;
  • In 2010, Verisk acquired 3E Company, which is a company that helps customers comply with the environmental health and safety requirements set by the government (ERS);
  • In 2012, Verisk acquired Argus Information & Advisory Services, a company that provides credit scoring solutions, information, analysis and customized services for financial institutions and regulatory agencies in North America, Latin America and Europe;
  • In 2012, Verisk acquired Aspect Loss Prevention, a company that provides loss prevention software and analysis solutions for retail, entertainment, food and other industries;
  • In 2012, Verisk Analytics acquired MediConnect Global, Inc.-a provider of proprietary systems for medical records and medical analysis;
  • In 2014, Verisk acquired Maplecroft.Net Limited, a global risk analysis and consulting service provider;
  • In 2014, Verisk acquired Dart, a company that provides consulting solutions to financial service institutions in key Asia Pacific markets such as Australia and New Zealand;
  • In 2015, Verisk acquired Wood Mackenzie, a company that provides data analysis and business intelligence services for the energy, chemical, metal, and mining industries for $2.8 billion.

Update on February 16, 2016: As of December 31, 2015, Berkshire Hathaway’s holdings of VERISK ANLYTCS-A (Nasdaq: VRSK) remained unchanged at 1,563,434 shares.

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