Verisk is the indispensable data utility for P&C insurance—now compounding that moat with AI-driven automation and heavy buybacks, with privacy regulation the only true existential risk.
Overview
Verisk is a dominant, high-margin insurance analytics and data infrastructure company that functions as a “system of record” for much of U.S. P&C insurance. Built from the legacy ISO utility, it controls massive proprietary datasets (~30+ PB; tens of billions of premium/loss records; ~1.9B claims) and monetizes them primarily through underwriting and claims solutions. The business is exceptionally durable: ~84% of revenue is subscription-based under long-term contracts, with most revenue still U.S.-centric (~83%) but with active international push via cat/reinsurance modeling. Core products (ISO forms/loss costs; Xactimate; ClaimSearch) are industry standards, protected by contributory data network effects, deep workflow integration, and regulatory relationships. After divesting Marketing Solutions (Dec 2025), Verisk is now a pure-play insurance analytics platform, positioning to benefit from accelerating AI/automation across the insurance value chain.