Verisk and Equifax Codevelop Insurance Scoring Solution

December 12, 2019 / 3 min read

JERSEY CITY, N.J., and ATLANTA, December 12, 2019 — Verisk (Nasdaq:VRSK), a leading data analytics provider, and Equifax Inc. (NYSE:EFX), a data, analytics, and technology leader, have entered into a strategic agreement to jointly develop the Inflection™ Insurance Score. Inflection is a new credit-based scoring solution that combines the robust credit data of Equifax with the insurance expertise and analytics of Verisk to help personal auto and property insurers enhance underwriting and improve growth and profitability.

“Credit-based insurance scores can provide valuable insight into policyholder risk. But these scores must be based on powerful data analytics and delivered quickly to meet the needs of insurers today,” said Rod Bazzani, general manager of insurance solutions at Equifax. “The Inflection Insurance Score will leverage comprehensive credit data and advanced predictive modeling, enabling insurers to evaluate and price risk with greater speed and precision.”

Inflection will provide insurers with a balanced framework in which to evaluate consumers, based on two years of trended credit data. The score will supplement traditional point-in-time snapshots, helping insurers gain a more dynamic picture of risk levels and quickly develop more precise quotes for increased profitability and customer satisfaction.

“Evaluating risk and uncovering growth opportunities are increasing challenges for insurers in today’s highly competitive marketplace,” said Doug Caccese, president of personal lines for ISO, a Verisk business. “Inflection presents a way for insurers to take their underwriting to the next level, with a solution that can help improve risk segmentation, pricing, and the customer experience across the policy life cycle.”

The Inflection Insurance Score will be available to insurers from both Equifax and Verisk and can be easily integrated with existing insurance workflows. For more information, please visit https://www.verisk.com/inflection or https://www.equifax.com/business/insurance/.

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 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 Equifax Inc.
Equifax is a global data, analytics, and technology company and believes knowledge drives progress. The Company blends unique data, analytics, and technology with a passion for serving customers globally, to create insights that power decisions to move people forward. Headquartered in Atlanta, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. It is a member of Standard & Poor’s (S&P) 500^® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 11,000 employees worldwide. For more information, visit Equifax.com and follow the company’s news on Twitter and LinkedIn.

Contacts:
Brett Garrison
Edelman for Verisk
917-639-4903
Brett.Garrison@edelman.com

Kate Walker for Equifax USIS
404-885-8058
MediaInquiries@equifax.com