Verisk Analytics (VRSK) FY2025 results: revenue $3.1 billion, up 6.6% on the year

Verisk sells data, models and software to insurers, mostly property and casualty insurers, to help them price risk, write policies, settle claims and detect fraud. It operates as one segment, Insurance. The work is sold through annual subscriptions or longer agreements, usually prepaid annually or quarterly, and those arrangements accounted for over 80 percent of what the company took in during 2025. In 2025 its customers included all of the top 100 property and casualty insurance providers in the United States for the lines it serves. The history runs back to 1971, when Insurance Services Office started as a not-for-profit advisory and rating organisation gathering statistical data from insurers and reporting to regulators; Verisk was formed in 2008 as the holding company and the shares began trading on the NASDAQ Global Select Market in October 2009.

Underwriting

The oldest part of the business supplies the building blocks of an insurance programme: policy language, prospective loss costs, policy writing and rating rules, and risk selection tools across 32 lines of insurance, which insurers use in product development, underwriting and rating and to meet state reporting requirements. Around that sits property and vehicle data. The database holds information on approximately 143 million residential and 16.3 million commercial properties in the United States, kept current by roughly 500 field representatives who visit properties, judge community fire-protection capability and assess how well municipal building codes are enforced.

Catastrophe models

Verisk builds probabilistic catastrophe models that insurers, reinsurers, brokers, financial institutions and governments use to put a figure on what a disaster would cost them. Models exist for hurricanes, earthquakes, winter storms, tornadoes, hailstorms, wildfires and floods in more than 120 countries and territories, plus a terrorism model that prices risk down to an individual policy and crop insurance loss models for the United States, Canada, India and China. The newest models cover casualty lines. Alongside them the company sells geospatial risk intelligence on sustainability, resilience, human rights, environmental, sovereign and political risk, and it aggregates and reports industry loss estimates for catastrophe and large-loss claims.

Claims and repair costs

The claims side estimates what it costs to repair or rebuild a damaged building and then tracks the work. A patented plan-sketching program works out material and labour quantities from what the adjuster or contractor draws. Price lists cover structural repair and restoration for 468 separate economic areas in North America, built from market surveys and actual claim experience, revised monthly and as often as weekly after a major disaster, with roughly 22,000 unit-cost line items in the repair and cleaning database. Virtual adjusting tools add real-time video collaboration, remote measuring, generative AI damage assessment and image analytics fraud warnings, and a weather interface feeds near real-time conditions into claims handling.

Fraud and casualty

The claims database analyses more than 1.9 billion claim records and the filing describes it as the world's largest body of property and casualty claims information used for claims processing and fraud investigation, with insurers and others submitting more than 193,000 new claims a day. The casualty line serves insurers, third-party administrators and self-insured employers, covering Medicare Secondary Payer and workers' compensation state reporting, severity detection and damage assessment, and automated medical record review.

Life, specialty and outside the United States

Life insurance and annuities came in with the 2019 purchase of FAST, whose no-code platform covers underwriting, claim insights, policy administration, unclaimed property, compliance and actuarial modelling. Specialty business solutions supply software to the specialty insurance market, with a long-standing client base in the London market, covering policy negotiation and placement, pricing, administration, claims and outwards reinsurance, and an electronic placing marketplace. International underwriting serves insurers in Canada, the United Kingdom and Ireland, much of the Lloyd's of London market, and clients in Continental Europe, Singapore, China, Australia and New Zealand. On 31 December 2025 the company sold its Verisk Marketing Solutions business to ActiveProspect for a net cash price of $80.0 million.

From Verisk's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 18 February 2026: read the full 10-K.