Company Market Research Report: Verisk Specialty Business Solutions

Company Overview

Name

Verisk Specialty Business Solutions

Mission of the Company

Verisk Specialty Business Solutions aims to provide impactful, reliable software solutions across the Excess and Surplus lines insurance market, leveraging expertise, professionalism, and a strong track record for timely and budget-conscious project delivery. The company focuses on addressing the market’s needs through advanced technology, data governance, and providing tailored solutions to enhance client experiences and better inform risk decisions.

When was the Company Founded and by Whom

No information is available.

Key People in the Company

Lee Shavel - Chief Executive Officer, Verisk

Tim Rayner - Chief Executive Officer

Helen Banton - Chief Operating Officer

Andy Galli - Chief Financial Officer

Danny Flavelle - Chief Strategy Officer

Paul Kent - Chief Product Officer, US

Andrew Cyran - Client Engagement Director, US

Richard G Smith - Chief Product Officer, EMEA

Simon Gutteridge - Chief Experience Officer

Javier García Magna - Director, Center of Excellence, Málaga

Headquarters

No information is available.

Number of Employees

No information is available.

Revenue of the Company

No information is available.

What is the Company Known For

Verisk Specialty Business Solutions is known for its award-winning Rulebook toolset that supports underwriting workflows through modernized rating and pricing models. It is recognized as a leading industry software specialist in the Excess and Surplus lines insurance market and offers a range of products for underwriters, brokers, and MGAs in the global market.

Products

Product Offerings

Rulebook Accelerator: A unique offering to modernize rating and pricing models, ensuring streamlined underwriting workflows.

Sequel Underwriting: Provides streamlined end-to-end management of insurance and reinsurance businesses.

Sequel Broking: Delivers efficiency, flexibility, and transparency for brokers through a one-stop solution.

Sequel Claims: Facilitates faster and fairer claims processing while providing real-time data insights.

Rulebook Rating as a Service (RRaaS): Hosted pricing solution with direct product integration to distribution partners.

Sequel Impact: Offers visualization of total exposure across various classes in one view.

High-Level Description of the Product

Verisk Specialty Business Solutions offers a modern, powerful, and integrated suite of software designed to provide full end-to-end management of the insurance and reinsurance process. This suite includes tools for workflow engine, automatic email management, credit control & financial data management, claims management, risk exposure tools, and more, making it flexible and comprehensive for carriers, brokers, and MGAs.

Key Features of Each Product

Rulebook: API-first tool, supports Python integration. It delivers a speed-to-market solution and supports robust portfolio management. Capable of managing pricing models across major business classes.

Sequel Underwriting, Broking, and Claims: Provide streamlined and efficient solutions tailored for specific roles within the insurance cycle, emphasizing efficiency and real-time data insights.

Sequel Impact: Allows visualization of exposure and cross-class aggregations with data-driven insights.

Recent Developments

Recent Developments in the Company

1. US Expansion of Whitespace: Verisk announced the US launch of Whitespace, a digital trading platform for brokers, underwriters, and MGAs to conduct business seamlessly in the global (re)insurance market.

2. Offshore Windfarm Risk Module: Verisk Specialty Business Solutions introduced a new module for offshore windfarm risk assessment, promoting cutting-edge technology in risk management.