Verisk Forges New Collaboration with Insurance Regulatory Consultants to Help Insurers Innovate
September 29 2021 - 9:00AM
Insurers looking to enhance their operations, develop custom
products and comply with state regulations can now benefit from a
new collaboration between Verisk (Nasdaq:VRSK), a leading global
data analytics provider, and Insurance Regulatory Consultants
(IRC), a full-service state filing and regulatory compliance
company.
As part of the collaboration, Verisk can leverage the deep
domain expertise and robust data of its ISO business to help new
and existing insurers launch new products, improve their actuarial
analysis and enhance their strategic decision making. IRC can
assist the insurers in the development of these new products and
guide them through the regulatory approval process.
"Verisk offers an unrivaled combination of deep data assets,
analytics, insurance policy programs and actuarial expertise
that helps insurers innovate and deliver value for their
customers,” said Jeremy W. Battles, principal, Insurance Regulatory
Consultants. “By combining Verisk’s actuarial expertise with IRC’s
unparalleled filing experience, together we are able to get
insurance company filings approved and programs to market
quickly.”
Verisk can help insurers and managing general agents (MGAs)
tackle their strategic objectives quickly by leveraging Verisk’s
insurance policy forms, rules, and advisory loss costs. Informed by
proprietary datasets, a deep roster of distinguished actuaries, and
in-depth knowledge of policy programs and analytics products,
Verisk’s team of insurance consultants can help customize and
implement these programs to help address a variety of customer
needs.
Insurance Regulatory Consultants provides state filing, product
development and regulatory compliance consulting for insurance
companies across the country. Additionally, IRC leverages the
FilingRamp app, allowing insurers to submit filings faster (through
the SERFF 2-way API) while offering them real-time status updates
of their filing projects in a clean, user-friendly interface.
"The team at Insurance Regulatory Consultants have a long and
distinguished track record of helping carriers develop products and
shepherding them through the regulatory process," said Saurabh
Khemka, president of ISO Commercial Lines at Verisk. “Working
together, we can offer insurers a one-stop-shop to help them launch
new products, expand into new markets, leverage proprietary data
for benchmarking, improve their actuarial analysis, and streamline
their compliance workflows. Driving greater innovation is healthy
for the industry as well as our customers and end insurance
consumers."
Learn more about Verisk Insurance Consulting and Insurance
Regulatory Consultants.
About Verisk Verisk (Nasdaq:VRSK)
provides predictive analytics and decision-support solutions to
customers in the insurance, energy and specialized markets, and
financial services industries. More than 70 percent of the FORTUNE
100 relies on the company’s advanced technologies to manage risks,
make better decisions and improve operating efficiency. The
company’s analytic solutions address insurance underwriting and
claims, fraud, regulatory compliance, natural resources,
catastrophes, economic forecasting, geopolitical risks, as well as
environmental, social, and governance (ESG) matters. Celebrating
its 50th anniversary, the company continues to aim to make the
world better, safer and stronger, and fosters an inclusive and
diverse culture where all team members feel they belong. With more
than 100 offices in nearly 35 countries, Verisk consistently earns
certification by Great Place to Work. For more: Verisk.com,
LinkedIn, Twitter, Facebook, and YouTube.
About Insurance Regulatory ConsultantsInsurance
Regulatory Consultants, LLC (IRC) is a full-service state filing
and regulatory compliance company formed in 1997 in Lower Manhattan
by John Battles and Kevin Purcell. Our staff executes
forward-thinking strategies while applying more than 100 years of
experience to provide compliance solutions to insurance companies,
faster and more efficiently than our competitors. IRC has produced
more than 75,000 approvals since the introduction of SERFF.
Contact:
Michelle Pantina (for Verisk)
201-469-3177
michelle.pantina@verisk.com
Jeremy Battles (for Insurance Regulatory Consultants)
212-571-3884
jeremybattles@ircllc.com
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