History
The company's Insurance Services Office (ISO) subsidiary was created in 1971 through the consolidation of various state, regional, and national rating bureaus for various lines of property/casualty insurance.[1] ISO helps insurers with product development, underwriting, and rating.
Since 2000, the company has acquired about 40 new businesses, which have helped broaden its product offerings. In 2002, it expanded its decision analytics business with the acquisition of AIR Worldwide, a catastrophe modeling firm.[4]
In 2004, it entered the healthcare market by acquiring several businesses, through which it offers analytical and reporting systems for health insurers, provider organizations, and self-insured employers. Verisk later sold its healthcare services business to Veritas Capital in 2016.[5] In 2006, the company expanded in the insurance claims sector with the acquisition of Xactware, a provider of estimating software for building repair and construction.[6]
In 2008, Verisk Analytics was established to serve as the parent holding company of ISO. In 2009, Verisk completed its IPO and became a publicly traded company.[7]
In 2010, Verisk acquired 3E Company, a provider of services that help customers comply with government-mandated environmental health and safety requirements.[8]
In 2012, Verisk acquired Argus & Advisory Services, a provider of competitive benchmarking, analytics, and customized services to financial institutions and regulators in North America, Latin America, and Europe.[9] Also in 2012, Verisk acquired Aspect Loss Prevention, a loss prevention software developer for retail, entertainment, and food industries;[10] and MediConnect Global, Inc., which develops software for medical records aggregation and analysis.[11]
In 2014, Verisk acquired Maplecroft, a provider of global risk analytics and advisory services,[12] and Dart, a provider of benchmarking financial services for companies operating in Australia, New Zealand, and other Asia-Pacific markets.[13] Then in 2015, Verisk acquired Wood Mackenzie, a data analytics and commercial intelligence company for energy, chemicals, metals, and mining industries, in a deal valued at $2.8 billion.[14]
Verisk acquired PowerAdvocate, a provider of data analytics and consulting services for the utilities and oil & gas industries, in 2017 for approximately $280 million.[15] In August 2017, Verisk acquired Sequel, an insurance and reinsurance software specialist based in London.[16] Verisk also currently owns and operates Atmospheric and Environmental Research (AER), a research agency headquartered in Lexington, Massachusetts.[17] AER conducts environmental studies with a focus on weather and climate research in order to provide risk assessment and analysis for various clients such as NOAA, NASA, and the United States Armed Forces.[18]
In 2020, Verisk acquired Jornaya,[19] a consumer behavioral data provider, Infutor,[20] an identity resolution and consumer data company, and Contact State, a lead generation platform, to form Verisk Marketing Solutions.[21]
In November 2021, Verisk acquired Data Driven Safety, a public record data aggregation firm that specializes in driver risk assessment in the United States.[22]
In December 2022, Verisk announced that it had entered into an agreement to acquire Mavera, a Sweden-based insurtech firm that operates a personal injury claims management platform.[23] In the same year, Verisk also acquired Opta, a Canadian provider of property intelligence and innovative technology solutions,[24] and Pruvan, a provider of field-to-office management solutions for property preservation and construction professionals.[25] Verisk also sold its financial services business to TransUnion for $515 million USD and[26] sold Wood Mackenzie to Veritas Capital for $3.1 billion USD in the same year.[27][28]
In 2025, Verisk acquired Nasdaq Risk Modelling for Catastrophes, a SaaS platform where specialized model partners make their models, hazard data and analytics available to the industry to help assess and address the global insurance protection gap,[29] and SuranceBay, a provider of producer licensing, onboarding, appointment and compliance solutions for the life and annuity industry.[30]
