Verisk's Data and Solutions Are Embedded in the US P&C Insurance Industry
Verisk traces its history to Insurance Services Office, a nonprofit advisory firm founded in 1971 by US property-casualty insurers. As its ambitions grew, Verisk gradually changed into a for-profit entity and went public in 2009. Verisk operates primarily under a consortium business model whereby it sources its data from customers, aggregates it, and sells it back to them. As a result, Verisk’s mission-critical, proprietary data and analytics are embedded in the P&C insurance market and have proven highly sticky.