Verisk Analytics is like an IHS Markit specialized in providing predictive analytics and risk assessment for the insurance, energy, and financial services sectors.

Imagine a Bloomberg Terminal, but designed for risk management and predictive insights across the insurance, energy, and financial industries.

• Insurance Analytics: Provides predictive analytics and decision support solutions for property and casualty customers, including fraud detection and loss quantification.
• Natural Resources Data & Analytics: Offers data analytics, research, and consulting services for the energy, chemicals, metals, mining, power, and renewables sectors.
• Financial Services Solutions: Delivers benchmarking, decisioning algorithms, business intelligence, and customized analytic services for financial institutions and related entities.

Verisk Analytics (VRSK) primarily provides data analytics solutions and decision support services to other companies and organizations. The provided background information does not list specific names of its major customer companies. However, based on the description, its major customers fall into the following categories:

• Property and Casualty (P&C) Insurance Companies: These customers utilize Verisk's solutions for loss prediction, risk selection and pricing, compliance, fraud detection, and loss quantification.
• Companies in the Natural Resources Value Chain: This category includes businesses in the energy, chemicals, metals, mining, power, and renewables sectors that rely on Verisk for data analytics, research, consulting, and advisory services.
• Financial Services Entities: This broad category encompasses financial institutions, payment networks and processors, alternative lenders, regulators, and merchants that use Verisk's benchmarking, decisioning algorithms, business intelligence, and customized analytic services.

Lee Shavel, Chief Executive Officer, President, Director

Lee Shavel became Chief Executive Officer of Verisk in May 2022, after joining the company in 2017 as Chief Financial Officer. He later also served as group president of the energy and financial services groups. Prior to Verisk, Mr. Shavel served as Executive Vice President and Chief Financial Officer of Nasdaq, Inc. from 2011 to 2016. Before that, he spent 18 years at Bank of America Merrill Lynch, holding positions such as Americas Head of Financial Institutions Investment Banking and Global Chief Operating Officer for the Financial Institutions Group. He advised on numerous significant transactions in the securities industry, including mergers, acquisitions, and initial public offerings. Mr. Shavel also serves on the board of FactSet Research Systems and chairs its audit committee.

Elizabeth Mann, Chief Financial Officer and Interim President, Claims Solutions

Elizabeth Mann was appointed Executive Vice President and Chief Financial Officer of Verisk, effective September 15, 2022. In this role, she leads Verisk's global finance organization and oversees client strategy. Before joining Verisk, Ms. Mann was with S&P Global, where she served as CFO for the Ratings and Mobility divisions and previously as Senior Vice President of capital management, overseeing treasury, tax, and capital allocation functions. Prior to S&P Global, she held various leadership roles at Goldman Sachs, including Managing Director in the firmwide strategy group and the technology, media, and telecom investment banking group. Ms. Mann began her career as a mathematician in academia, earning a Ph.D. in mathematics from the University of Oxford and a B.S. in mathematics from Harvard University. She also served as Moore Instructor & National Science Foundation Postdoctoral Fellow at the Massachusetts Institute of Technology. She serves on the Board of Motorola Solutions, Inc., and as the Board President for the Winston Churchill Scholarship Foundation of the United States.

Kathy Card Beckles, Executive Vice President, Chief Legal Officer, and Corporate Secretary

Kathy Card Beckles joined Verisk as Executive Vice President, Chief Legal Officer, and Corporate Secretary in April 2021. Before Verisk, she served as General Counsel for Chase Consumer Bank and Shared Services at JP Morgan Chase, and previously led the company's card team and served as chief intellectual property counsel. She also worked as Managing Director and Associate General Counsel of Intellectual Property and Technology at JPMorgan Chase from 2004 to 2015. Ms. Card Beckles began her career as an engineer and practiced law at Kenyon & Kenyon. She holds a Doctor of Law degree from The George Washington University Law School and a Bachelor of Science in Chemical Engineering from the University of Delaware.

Nicholas Daffan, Chief Information Officer

Nicholas Daffan is Verisk's Chief Information Officer, a role he has held since July 2015. He is responsible for the company's technology strategy, operations, and the advancement of data and analytics. Prior to becoming Verisk's CIO, Mr. Daffan was the Chief Information Officer of Argus Information and Advisory Services (now part of Verisk Financial), which he joined in 2000. At Argus, he was responsible for Data Operations, Product Support, and Information Technology groups. Before Argus, Mr. Daffan worked at Unisys Corporation, where he led a team implementing SQL Server, and at First Manhattan Consulting Group, focusing on retail banking strategy, management information systems, and risk management. He holds a B.S. in Finance from Pennsylvania State University.

Sunita Holzer, Executive Vice President and Chief Human Resources Officer

Sunita Holzer was appointed Executive Vice President and Chief Human Resources Officer (CHRO) at Verisk in August 2021, leading global HR strategy and operations for the company's team members across more than 20 countries. She brings three decades of enterprise-level HR leadership experience across various industries. Before Verisk, Ms. Holzer served as EVP and CHRO at Realogy Holdings Corporation. Her prior experience also includes roles as CHRO for Computer Sciences Corporation (now DXC Technology), CHRO at Chubb Insurance, and Chief Diversity Officer at American Express. She also founded and served as President of Human Capital Insight, an advisory firm. Ms. Holzer is a member of the board of directors for South Jersey Industries and the Human Resources Management Department Advisory Board at Rutgers School of Management and Labor Relations.

1. Data Security and Privacy Risks: Verisk Analytics' core business relies on collecting, analyzing, and providing data-driven solutions across various sectors, including highly sensitive areas like insurance and financial services. A breach of their extensive databases, failure to comply with evolving data privacy regulations (e.g., GDPR, CCPA, or industry-specific rules), or issues with data integrity could severely damage their reputation, lead to significant legal and financial penalties, and erode customer trust.
2. Technological Disruption and Competition in Analytics: The company's offerings are rooted in predictive analytics, machine learning, and artificial intelligence models. The rapid pace of technological innovation in these fields means Verisk must continuously invest in research and development to maintain its competitive edge. Failure to keep up with new technologies, or the emergence of a competitor with more advanced or cost-effective analytics solutions, could lead to a loss of market share and relevance.
3. Regulatory and Industry Changes: Operating in regulated industries such as insurance, financial services, and natural resources makes Verisk susceptible to changes in laws, regulations, or industry standards. Shifts in compliance requirements, reporting mandates, or even the fundamental ways risk is assessed and managed within these sectors could necessitate significant adaptations to their products and services, or potentially reduce demand for their current offerings.

Verisk Analytics, Inc. operates in three main segments: Insurance, Energy and Specialized Markets, and Financial Services. The addressable markets for their key products and services are as follows:

Insurance Segment

• For its Underwriting & Rating and Claims products, Verisk Analytics estimates a total addressable market of $15 billion globally.
• In rapidly growing adjacencies within the U.S. insurance market, the total addressable market for Life Insurance is estimated at $2 billion.
• The total addressable market for Marketing Solutions in the U.S. property and casualty (P&C) sector is also estimated at $2 billion.
• Verisk also identifies a $1 billion total addressable market in international current markets for product extensions, new geographies, and synergies.
• More broadly, the global insurance analytics market was valued at approximately USD 19.3 billion in 2025 and is projected to reach USD 54.54 billion by 2034. Another estimate places the global insurance analytics market size at USD 15.75 billion in 2025, with a projection to reach USD 47.97 billion by 2033.

Energy and Specialized Markets Segment

• The global market for Artificial Intelligence (AI) in Mining and Natural Resources, which aligns with Verisk's data analytics for the natural resources value chain, was valued at USD 6.39 billion in 2025 and is predicted to grow to USD 41.13 billion by 2035.
• The global big data analytics market in the energy sector was valued at USD 11.91 billion in 2025 and is projected to reach USD 33.49 billion by 2034.
• The global geospatial analytics market, which includes the energy, utility, and natural resources industry verticals, was valued at USD 85.5 billion in 2023 and is projected to reach USD 220.2 billion by 2033.

Financial Services Segment

• The global financial data services market was valued at USD 28.1 billion in 2025 and is projected to reach USD 59 billion by the end of 2035. North America is expected to hold a 40.6% share of this market by 2035. Another report indicates the global financial data services market was valued at USD 29.53 billion in 2024 and is projected to attain USD 63.18 billion by 2032. North America held the largest share in 2024 at 44.3%.
• The global financial analytics market was valued at USD 12.57 billion in 2024 and is estimated to reach USD 29.65 billion by 2033. North America currently dominates this market, holding over 34.0% share in 2024.

Expected Drivers of Future Revenue Growth for Verisk Analytics (VRSK)

1. Consistent Organic Constant Currency Revenue Growth: Verisk Analytics anticipates organic constant currency revenue growth of 6% to 8% over the next three years, primarily driven by its robust subscription-based SaaS model, which accounts for approximately 80% of its revenue. This growth is further supported by the ongoing and increasing adoption of data and technology across the global insurance industry, leading to higher demand for Verisk's solutions to automate core functions like underwriting, claims, and risk management.
2. Product Innovation and AI Integration: The company is heavily focused on continuous investment in research and development, particularly in artificial intelligence (AI), to enhance its offerings and maintain a strong competitive edge. AI integration is central to Verisk's strategy, aimed at providing enhanced customer offerings, improving risk management tools (such as catastrophe models), and driving efficiency and productivity gains for clients. Verisk plans to release 25 new customer-facing modules in 2026, and new AI-enabled products have already seen rapid adoption by major insurers.
3. Strategic Acquisitions and International Expansion: Verisk's growth strategy includes a commitment to strategic acquisitions to enter new markets, acquire new technologies, and expand its capabilities and customer base. The company has a history of inorganic growth, with recent acquisitions bolstering its property and life insurance solutions. Additionally, Verisk is actively pursuing international expansion, particularly in markets like the UK and Germany, to capture global market share and grow its contributory data businesses.
4. Diversification into New Markets: While its core focus remains the insurance industry, Verisk is strategically diversifying into new product areas to broaden its revenue streams and reduce reliance on cyclical insurance markets. A notable example is its active targeting of the U.S. Healthcare Payer Analytics market, which is projected for significant growth, leveraging Verisk's existing data expertise to cater to new customer segments. This strategic diversification is expected to contribute to the company's long-term resilience and growth.

Share Repurchases

• In February 2026, Verisk Analytics initiated accelerated share repurchase agreements totaling $1.5 billion, with approximately $1.0 billion remaining under its existing authorization. This followed a board approval to increase the total share repurchase authorization to $2.5 billion.
• The company repurchased shares worth $2.8 billion in 2023 and $1.0 billion in 2024.
• In the fourth quarter of 2025, Verisk repurchased $223.8 million of common stock through an enhanced open market repurchase program.

Share Issuance

• Verisk Analytics' shares outstanding have shown a consistent decline over the past few years, with 0.143 billion shares outstanding in 2024 (a 3.05% decline from 2023) and 0.147 billion shares outstanding in 2023 (a 7.29% decline from 2022), indicating a net reduction rather than significant issuance.

Inbound Investments

• No significant inbound investments by third-parties, such as strategic partners or private equity firms, were prominently disclosed during the last 3-5 years.

Outbound Investments

• In July 2025, Verisk acquired AccuLynx for $2.35 billion.
• Also in July 2025, the company acquired Surancebay for $162 million.
• In January 2024, Verisk acquired Rocket Enterprise Solutions GmbH for $10.1 million to expand its property claims and underwriting digitalization offerings across Europe.

Capital Expenditures

• Verisk Analytics' capital expenditures were approximately $244.1 million in 2025 and $223.9 million in 2024.
• In 2023, capital expenditures were approximately $230.0 million.
• The capital expenditures are primarily focused on investments in technology and internally developed software projects, which support their data analytics capabilities for clients.