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VERISK ANALYTICS, INC.

(VRSK)
  Report
Real-time Estimate Cboe BZX  -  01:26 2022-10-06 pm EDT
177.54 USD   -1.33%
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Verisk and NICB renew strategic relationship to help insurers fight insurance fraud

08/15/2022 | 09:01am EDT

JERSEY CITY, N.J., Aug. 15, 2022 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics provider, and the National Insurance Crime Bureau (NICB) have renewed their strategic relationship to help combat organized insurance fraud. The NICB is the insurance industry’s association dedicated to investigating and combatting insurance crime.

The organizations have a longstanding relationship dating to 1998. The relationship enables seamless and integrated access to tools and data that can help protect insurance companies and their policyholders from fraud and other insurance crimes. For example, mutual clients can access NICB services through Verisk’s ClaimSearch® solution, including the ability to refer suspicious claims to the NICB and receive automated questionable claim alerts.

“Maintaining strategic relationships like this reinforces our commitment to delivering the highest-quality service and cutting-edge technology to our members,” said David Glawe, president and CEO of the NICB. “Crime is a business, and our use of data, technology and proven investigative techniques allows us to be proactive, rather than reactive, in the fight against insurance crime.”

The relationship allows mutual customers of Verisk and the NICB to benefit from the extensive data and advanced technology the organizations provide to detect insurance fraud.

“We’re proud of our nearly 25-year strategic relationship with the NICB and the numerous ways our collaboration helps the insurance industry combat fraud more effectively,” said Maroun Mourad, president of claims solutions at Verisk. “By providing data processing, hosting and a powerful, highly secured data fusion environment, Verisk helps the NICB perform analytics that fuel its fight against organized fraud and help the efforts of insurers and law enforcement as they can receive critical alerts from the NICB. This relationship also strengthens our shared resolve in connecting the anti-fraud community for the greater good.”

About Verisk 
Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.


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Financials (USD)
Sales 2022 3 040 M - -
Net income 2022 1 097 M - -
Net Debt 2022 2 984 M - -
P/E ratio 2022 26,0x
Yield 2022 0,68%
Capitalization 28 242 M 28 242 M -
EV / Sales 2022 10,3x
EV / Sales 2023 9,76x
Nbr of Employees 9 367
Free-Float 28,7%
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 179,93 $
Average target price 205,57 $
Spread / Average Target 14,3%
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Managers and Directors
Lee M. Shavel Chief Executive Officer & Director
Mark V. Anquillare Director-Financial Systems
Elizabeth Mann Chief Financial Officer
Bruce E. Hansen Chairman
Nicholas Daffan Chief Information Officer
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