11 THE SCIENCE OF RISK SM About Verisk Analytics.
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Transcript of 11 THE SCIENCE OF RISK SM About Verisk Analytics.
11
T H E S C I E N C E O F R I S KSM
About Verisk Analytics
2T H E S C I E N C E O F R I S K SM
• Who we are• Our approach• Our evolution and growth• Our customers and brands
Agenda
3
Who We Are
T H E S C I E N C E O F R I S K S M
Data, Analytics, and Decision Support
Understand
Risk
Fraud Detection and Prevention
Focus on Prediction
Insurance Heritage, recently moved into Healthcare & Mortgage
4T H E S C I E N C E O F R I S K SM
Our Approach to the Market
Risk Assessment
Our policy language is standard in
P&C insurance
Identify fraudulent mortgage
applications Proprietary engineering data on most Class A
U.S. commercial buildings
Rating of >46,000 town / city
fire departments
Catastrophe modelspredict hurricane damage monthsbefore landfall
Prediction of loss per risk underwritten
Evaluate which 50 people will represent
20% of all claims dollars in10K-person health plan
Estimate cost to rebuild tornado-
damaged homes
Decision Analytics
Turnkey Solutions and “COGS” for P&C
Insurance Embedded Analytics to Manage Risk
5T H E S C I E N C E O F R I S K S M
14.5 billion records in commercial and personal linesOver 1,800 insurers provide dataAlmost 3 billion records submitted
each year
25 years of VIN auto information
Detailed information on over 2.8 million commercial properties
Insurance fraud database with about 700 million claimsUsed by >93% of the P&C industry
Over 20 million annual claim assignments for property lossesUsed by >75% homeowners
insurersModels covering natural
hazardsin over 50 countries
Mortgage analytics based on over50 million applications, borrowersand third-parties
Healthcare analytics referencing nearly 20 million insured lives
5
Risk Assessment Decision Analytics
Unique and Valuable Data Assets
6T H E S C I E N C E O F R I S K SM 6
Verisk Evolution Timeline
1971 ISO formed – privately held, not-for-profit organization
1997ISO becomes for-profit, still privately heldISO establishes ESOPAmerican Insurance Services Group (AISG)
2000 ISO Claims Outcome Advisor (COA)
2001 Marine Index Bureau (MIB)
2002 NetMap Analytics, iiX, AIR Worldwide, IntelliCorp
2003 ACI
2004 Quality Planning, DxCG
2005 AppIntelligence and Sysdome, eLiens
2006 RegsData, Xactware, Domus, Urix
2007 HCI, NIA Consulting
2008 Predicted Solutions, AER, DayOne / United Systems
2009 Verisk Analytics IPOD2Hawkeye, TierMed, Enabl-u
2010 Strategic Analytics, Crowe Paradis, 3E Company
7T H E S C I E N C E O F R I S K SM
Our People and Credentials
Our Credentials• Highly skilled and disciplined team
• More than 550 advanced degrees, including over 100 Ph.D.s
• More than 70 Fellows and Associates
• Almost 140 CPCUs
• More than 45 CIDMs and AIDMs
• Nearly 200 Certified Fire Protection Specialists
8T H E S C I E N C E O F R I S K SM
Our Customers
The Top 100 P&C Insurance Providers
The 10 Largest Global Reinsurers
5 of the 6 Leading Mortgage Insurers
14 of the 20 Leading Mortgage Lenders
Numerous Health Plans & TPA’s
Numerous Government Agencies(DHS, NOAA, NASA, DOD)
9T H E S C I E N C E O F R I S K SM
Our Brands
Risk Analysis
Mortgage
Healthcare
P & C
1010
T H E S C I E N C E O F R I S KSM
About Verisk Analytics
