JERSEY CITY, NJ, November 2, 2021 (Globe Newswire) — Verrisk (Nasdaq: VRSK), a leading global data analytics provider, has acquired Data Driven Safety, a leading public records data aggregator specializing in driver risk assessment in the United States . The acquisition will expand Verisk’s powerful auto insurance analytics, providing insurance companies with information to improve underwriting, improve customer experience and enhance public safety.
Data Driven Safety, through its unique data collection and management system, collects information about traffic citations, vehicle accidents, and driving records from public sources.
“The addition of billions of driver risk records improves the accuracy of our innovative risk indicator solutions and will help customers develop their own digital transformation strategies,” said Doug Kakis, Head of ISO Personal Lines at Verrisk. A more complete and cost-effective display of automotive risk while enabling them to design the buying experience and rewarding customers with a history of safe driving practices.”
Jason Murphy, CEO of Data Driven Safety (DDS), said of the acquisition, “DDS’ mission is to advance the public good through the use of public record information. By joining forces with Verisk, we will be able to increase our reach, advance solutions, and help the group A wide range of clients is able to identify the safest risks by making informed decisions.”
Verisk has not obtained a criminal conviction (eLuminateHR.com) or healthcare reimbursement business (MVAreCOUP.com), which will be independently owned and operated by Safer Public, LLC.
Verisk is building the future auto insurance ecosystem for today’s insurers
Verisk’s recent analysis indicates that more risky driving behavior – which has emerged as traffic drops during pandemic lockdowns – has led to more serious violations and accidents and appears to be progressing as miles continue to climb. To modernize auto insurance underwriting and risk assessment, Verisk has developed a suite of solutions that apply advanced analytics and automation to existing and emerging data sources. Solutions include LightSpeed Auto, which combines powerful data resources with leading predictive analytics from Verisk to deliver superior results for both auto insurers and their customers.
The Verisk suite of solutions also includes the Verisk Data Exchange™, one of the largest remote data exchanges of its kind containing more than 290 billion miles of driving data from compatible drivers of connected cars. The exchange of Verisk data enables auto insurers to access the driving behavior insights they need to instantly provide telematics rates and discounts during the pricing process through the leading DrivingDNA® suite of products. With advanced analytics and data optimization capabilities, insurers using Verisk solutions can gain ready access to automotive telemetry that supports the development and growth of usage-based insurance. Several auto insurance companies have already been linked to the Verisk Data Exchange, including four of the 10 largest US carriers.
To learn more about Verisk’s personal auto solutions, visit verisk.com/personalauto.
About data-driven security
Data Driven Safety (DDS) is a leading public records data aggregator specializing in the risk assessment of drivers in the United States. With its industry-leading data collection and management platform, DDS efficiently retrieves disparate data from thousands of local law enforcement, DMVs, and judicial organizations on a daily basis. DDS then aggregates this hard-to-obtain data to provide valuable insights to help insurers reduce costs, better manage risk, and anticipate operational challenges.
Verisk (Nasdaq: VRSK) provides predictive analytics and decision support solutions to clients in the insurance, energy, specialty and financial services industries. More than 70 percent of FORTUNE 100 rely on the company’s advanced technologies to manage risk, make better decisions, and improve operating efficiency. The company’s analytics solutions address underwriting and insurance claims, fraud, regulatory compliance, natural resources, disasters, economic forecasting, geopolitical risk, as well as environmental, social and governance (ESG) issues. Celebrating its fiftieth anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where everyone Team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk is consistently certified by the Great Place to Work. More: Verrisk.com, LinkedIn, Twitterand Facebook and YouTube.