Verisk Analytics

“Factors that might affect the acceptance of these solutions by P&C primary insurers include the following: • changes in the business analytics industry; • changes in technology; • our inability to obtain or use state fee schedule or claims data in our insurance solutions; • changes in regulation • saturation of market demand; • loss of key customers; • industry consolidation; • failure to execute our customer-focused selling approach; and • insourcing by insurers of the services or analytics we currently provide. A downturn in the insurance industry, pricing pressure or lower acceptance of our solutions by the insurance industry could result in a decline in revenues from that industry and have a material adverse effect on our financial condition, results of operations and cash flows.”

Annual report 2025A · The company itself

“This support spans their product development, new and renewal underwriting, risk selection and segmentation, pricing, and straight through to policy binding and issuance.”

Annual report 2025A · The company itself

“For most P&C insurers in most lines of business, we believe that our estimates of future costs are an essential input to rating decisions.”

Annual report 2025A · The company itself

“In 2025, our clients included all of the top 100 property and casualty ("P&C") insurance providers in the U.S. for the lines of P&C services we offer.”

Annual report 2025A · The company itself

“We also supply information to various clients in other markets, including reinsurance and government agencies.”

Annual report 2025A · The company itself

“Specialty Business Solutions We are a leading software supplier to the global specialty insurance market with particular focus on the London specialty market where we have a long-standing client base.”

Annual report 2025A · The company itself

“Table of Contents Our Customers The customers for the lines of P&C services we offer include the top 100 P&C insurance providers in the U.S., many of the top global reinsurance companies, as well as domestic InsurTech companies and insurers in international markets.”

Annual report 2025A · The company itself

“During the year ended December 31, 2025, approximately 70% of our revenue was derived from solutions provided to U.S. P&C primary insurers.”

Annual report 2025A · The company itself

“Security breaches in our facilities, computer networks, and data repositories may cause harm to our business and reputation and result in a loss of customers. Many of our solutions involve the storage and transmission of proprietary information and sensitive or confidential data, which are significantly complex with various uses across businesses and locations.”

Annual report 2025A · The company itself

“Third-party contractors, including cloud-based service providers, also may experience security breaches involving the storage and transmission of proprietary information. If users gain improper access to our data repositories, they may be able to steal, publish, delete or modify confidential third-party information that is stored or transmitted on our networks.”

Annual report 2025A · The company itself

“Increasing use of AI, including but not limited to generative AI models and agentic AI processes, in our internal systems may create new attack methods for adversaries and raise ethical, technological, legal, regulatory, and other challenges, which may negatively impact our brands and demand for our products and services. Our business policies and internal security controls may not keep pace with these changes as new threats emerge, or the emerging cybersecurity regulations in jurisdictions worldwide.”

Annual report 2025A · The company itself

“Security We have adopted a wide range of measures to secure our information technology ("IT") infrastructure and data. Security measures generally cover the following key areas: security policies and governance committees, physical security, logical security of the perimeter, network security, logical access to applications and operating systems, deployment of endpoint security software, email security, cloud security, data security, and appropriate procedures relating to removable media such as laptops, which are also encrypted.”

Annual report 2025A · The company itself

“Anti-Fraud Solutions We are a leading provider of fraud-detection tools for the P&C insurance industry. Our anti-fraud solutions can improve our customers’ profitability by predicting the likelihood that fraud may be occurring and by detecting suspicious activity after it has occurred.”

Annual report 2025A · The company itself

“Table of Contents Claims Our claims insurance solutions provide our customers analytics in fraud detection, compliance reporting, subrogation liability assessment, litigation, and repair cost estimation and valuation, including emerging areas of interest within these categories.”

Annual report 2025A · The company itself

“Our claims database lends significant support to the fight against insurance fraud. The database analyzes more than 1.9 billion claim records and is the world’s largest database of P&C claims information used for claims processing and fraud investigations.”

Annual report 2025A · The company itself

“Third-party contractors, including cloud-based service providers, also may experience security breaches involving the storage and transmission of proprietary information. If users gain improper access to our data repositories, they may be able to steal, publish, delete or modify confidential third-party information that is stored or transmitted on our networks.”

Annual report 2025A · The company itself

“Our operations depend on our ability, as well as that of third-party service providers to whom we have outsourced several critical functions, to protect data centers, whether in cloud or dedicated environments, and related technology against damage from hardware failure, fire, flood, power loss, telecommunications failure, impacts of terrorism, breaches in security (such as the actions of computer hackers), natural disasters, or other disasters. Certain of our facilities are located in areas that could be impacted by coastal flooding, earthquakes or other disasters.”

Annual report 2025A · The company itself

“A technology vendor that provides critical services, such as cloud-based infrastructure, creates a single point of failure resulting in pricing or contract lock-in risk. As our operations migrate to a cloud-based information technology infrastructure and delivery model (distributed computing infrastructure platform for business), systems are consolidated into a smaller number of large infrastructure suppliers.”

Annual report 2025A · The company itself

“Table of Contents Information Technology Technology Our information technology systems and adoption of cloud computing are fundamental to our success. They are used for the storage, processing, access, and delivery of the data that forms the foundation of our business and the development and delivery of the solutions we provide to our customers.”

Annual report 2025A · The company itself

“We are modernizing and advancing the capabilities of our core solutions using cloud technology and advanced analytical methods including machine learning and artificial intelligence ("AI") while also augmenting our solutions through the addition of new data assets and sources.”

Annual report 2025A · The company itself

“There may be consolidation in our end customer market, which could reduce the use of our services. Mergers or consolidations among our customers could reduce the number of our customers and potential customers.”

Annual report 2025A · The company itself

“Our long-term business strategy includes growth through acquisitions and other strategic relationships.”

Annual report 2025A · The company itself

“AI use by our customers or other third parties could result in the replacement of our existing products and/or solutions or the reduction of their relevance. Many of our products rely on proprietary or copyrighted material which could be fed into AI models without our knowledge.”

Annual report 2025A · The company itself

“Increasing use of AI, including but not limited to generative AI models and agentic AI processes, in our internal systems may create new attack methods for adversaries and raise ethical, technological, legal, regulatory, and other challenges, which may negatively impact our brands and demand for our products and services. Our business policies and internal security controls may not keep pace with these changes as new threats emerge, or the emerging cybersecurity regulations in jurisdictions worldwide.”

Annual report 2025A · The company itself

“Drawing on an array of resources from proprietary and third-party data to geospatial imagery, we build and maintain widely used industry-standard tools that assist insurers in underwriting and rating—that is, measuring and selecting risks and pricing coverage appropriately to help ensure fairness to the consumer and a reasonable return for the insurer. Our solutions apply advanced predictive analytics to our deep reservoir of data and information to gauge the degree and cost of risk quickly and precisely, and our workflow tools help insurers increase speed and cost-efficiency while enhancing customer experiences. These solutions span a range of applications—from using precise home reconstruction costs to help policyholders have the right amount of coverage, to providing auto insurers with the data that supports offering consumers a bindable quote in minutes through modern application programming interfaces.”

Annual report 2025A · The company itself

“We are focused on understanding and documenting business unit and corporate data assets and data issues, sharing and combining data assets across the enterprise, creating an enterprise data strategy, facilitating research and product development, and promoting cross-enterprise communication.”

Annual report 2025A · The company itself

“Table of Contents Information Technology Technology Our information technology systems and adoption of cloud computing are fundamental to our success. They are used for the storage, processing, access, and delivery of the data that forms the foundation of our business and the development and delivery of the solutions we provide to our customers.”

Annual report 2025A · The company itself

“We are modernizing and advancing the capabilities of our core solutions using cloud technology and advanced analytical methods including machine learning and artificial intelligence ("AI") while also augmenting our solutions through the addition of new data assets and sources.”

Annual report 2025A · The company itself

“We have solutions that leverage AI and generative AI to automatically extract unstructured data from and summarize medical records for efficient review and analysis during claim processing and demand packages review to improve injury evaluations and settlement negotiations.”

Annual report 2025A · The company itself

“Our growth and success depend upon our ability to develop and sell new solutions. If we are unable to develop new solutions, or if we are not successful in introducing and/or obtaining regulatory approval or acceptance for new solutions, or products we develop face sufficient pricing pressure to make them unattractive to pursue, we may not be able to grow our business, or growth may occur more slowly than we anticipate.”

Annual report 2025A · The company itself

“We may fail to attract and retain enough qualified employees to support our operations, which could have an adverse effect on our ability to expand our business and service our customers. Our business relies on large numbers of skilled employees and our success depends on our ability to attract, train and retain a sufficient number of qualified employees.”

Annual report 2025A · The company itself

“As a knowledge-based business, we carefully integrate the skills and talents of approximately 8,000 employees worldwide as of December 31, 2025.”

Annual report 2025A · The company itself

“Table of Contents Human Capital Our global workforce is united by our mission to serve, add value, and innovate for customers. We continue to invest in our people worldwide by encouraging all employees to reach their full potential through a focus on learning, providing competitive compensation and benefits, and a culture anchored on our purpose driven values of results, learning, and caring.”

Annual report 2025A · The company itself

“Table of Contents Casualty Solutions We offer a robust suite of casualty/bodily injury solutions to serve the P&C industry, third-party administrators, and self-insured employers.”

Annual report 2025A · The company itself

“International Claims Solutions We provide a comprehensive suite of solutions supporting property and casualty insurers across the United Kingdom and Europe. Our expertise spans personal injury and motor franchises in Germany, the Nordics, and the United Kingdom, complemented by property claims solutions in Germany and the United Kingdom.”

Annual report 2025A · The company itself

“International Underwriting Solutions We continue to expand our footprint of data and solutions to include international markets. Our access to international insurance markets grew through acquisitions and today serve a large number of insurers operating in the Canadian, United Kingdom (U.K.) and Irish P&C markets, and travel market. Additionally, our international expansion provides services to much of the Lloyd's of London market, while also serving clients in Continental Europe, Singapore, China, Australia, and New Zealand.”

Annual report 2025A · The company itself

“Approximately 57% of our employees are based in the United States, 11% in the United Kingdom, 11% in India, with the remainder serving in 18 other countries across the globe.”

Annual report 2025A · The company itself

“Our auto solutions are powered by a mix of third-party and proprietary data ranging from 2 billion traffic court records to characteristics on more than 280 million insured drivers and 288 million registered vehicles with access to expansive industry databases on loss costs and claims.”

Annual report 2025A · The company itself

“Insurance Segment We operate in one segment, Insurance, which primarily serves our P&C insurance customers across most personal and commercial lines of business, focusing on the fundamental building blocks of insurance programs, the prediction of loss, the selection and pricing of risk, and compliance with their reporting requirements in each U.S. state in which they operate.”

Annual report 2025A · The company itself

“Table of Contents Financial and Economic Risks Related to Our Business General economic, political and market forces and dislocations beyond our control could reduce demand for our solutions and harm our business. The demand for our solutions may be impacted by domestic and international factors that are beyond our control, including macroeconomic, political and market conditions, global supply chain disruption, the availability of short-term and long-term funding and capital, the level and volatility of interest rates, currency exchange rates, and inflation.”

Annual report 2025A · The company itself

“Within Catastrophe and Risk Solutions, we serve reinsurers, insurers, brokers, governments, and corporations by helping them identify, quantify and plan for the financial consequences of catastrophes.”

Annual report 2025A · The company itself

“International Claims Solutions We provide a comprehensive suite of solutions supporting property and casualty insurers across the United Kingdom and Europe. Our expertise spans personal injury and motor franchises in Germany, the Nordics, and the United Kingdom, complemented by property claims solutions in Germany and the United Kingdom.”

Annual report 2025A · The company itself

“International Underwriting Solutions We continue to expand our footprint of data and solutions to include international markets. Our access to international insurance markets grew through acquisitions and today serve a large number of insurers operating in the Canadian, United Kingdom (U.K.) and Irish P&C markets, and travel market. Additionally, our international expansion provides services to much of the Lloyd's of London market, while also serving clients in Continental Europe, Singapore, China, Australia, and New Zealand.”

Annual report 2025A · The company itself

“Our database contains data and analytics on approximately 143 million residential properties and 16.3 million commercial properties in the U.S.”

Annual report 2025A · The company itself

“Insurance Segment We operate in one segment, Insurance, which primarily serves our P&C insurance customers across most personal and commercial lines of business, focusing on the fundamental building blocks of insurance programs, the prediction of loss, the selection and pricing of risk, and compliance with their reporting requirements in each U.S. state in which they operate.”

Annual report 2025A · The company itself

“We endeavor to be the leading strategic data, analytics, and technology partner to the global insurance industry by delivering value to our clients through knowledge, expertise, and scale, and we focus on elevating the strategic dialogue with our clients.”

Annual report 2025A · The company itself

“For life and annuity insurers, we offer digital solutions including electronic applications and policy administration systems to enable automated/accelerated triage, underwriting, fraud detection, and modeling.”

Annual report 2025A · The company itself

“We offer our solutions and services primarily through annual subscriptions or long-term agreements, which are typically prepaid (annually and quarterly) and represented over 80% of our revenues in 2025.”

Annual report 2025A · The company itself

“Insurance companies need to ensure that their policy language, rules, and rates comply with all applicable legal and regulatory requirements. They must also make sure their policies remain competitive by promptly changing coverages in response to changes in statutes, case law, or regulatory requirements.”

Annual report 2025A · The company itself

“We provide many types of data and services that already are subject to regulation under the Fair Credit Reporting Act, Gramm-Leach-Bliley Act, Driver’s Privacy Protection Act, the European Union’s General Data Protection Regulation, the Dodd Frank Wall Street Reform and Consumer Protection Act and to a lesser extent, various other federal, state, and local laws and regulations.”

Annual report 2025A · The company itself

“We participate in businesses (particularly insurance-related businesses and services) that are subject to substantial litigation, including antitrust, consumer protection, intellectual property litigation, and data use and privacy. In addition, our insurance specialists are in the business of providing advice on standard contract terms, which if challenged could expose us to substantial reputational harm and possible liability.”

Annual report 2025A · The company itself

“Regulatory developments could negatively impact our business. Because personal, public and non-public information is stored in some of our data repositories, we are vulnerable to government regulation and policy, as well as adverse publicity concerning the use of our data.”

Annual report 2025A · The company itself

“Sources of Our Data The data we use to perform our analytics and power our solutions is sourced through seven different kinds of data arrangements. First, we gather data from our customers within agreements that also permit our customers to use the solutions created from their data. Those agreements remain in effect unless the data contributor chooses to opt out.”

Annual report 2025A · The company itself

“Also, our invoices for certain of our solutions are linked in part to premiums in the U.S. P&C insurance market, which may rise or fall in any given year due to loss experience and capital capacity and other factors in the insurance industry such as responses to natural disasters and climate-related events that are beyond our control.”

Annual report 2025A · The company itself

“We also provide our customers access to price lists, which include structural repair and restoration pricing for 468 separate economic areas in North America based on direct market surveys and analysis of actual customer claim experience. We revise this information monthly, and as often as weekly in the aftermath of major disasters, to reflect rapid price changes.”

Annual report 2025A · The company itself

“Physical and transition risks associated with climate change and its consequences could disrupt operations, threaten the safety of employees, or negatively impact our financial performance. While we seek to be a strategic partner to the global insurance industry in analyzing risks related to climate change and building resilience, we recognize that there are inherent risks wherever business is conducted.”

Annual report 2025A · The company itself

“Property insurers throughout the U.S. uses our evaluations of community firefighting capabilities to help determine premiums for fire insurance throughout the country.”

Annual report 2025A · The company itself

“With operations in 15 countries, we provide services to the insurance industry worldwide, including operations in various developing nations. Both current and future foreign operations could be adversely affected by unfavorable geopolitical developments, including legal and regulatory changes; tax changes; changes in trade policies; changes to visa or immigration policies; regulatory restrictions; government leadership changes; political events and upheaval; sociopolitical instability; social, political or economic instability resulting from climate change; and nationalization of our operations without compensation.”

Annual report 2025A · The company itself

“Table of Contents Financial and Economic Risks Related to Our Business General economic, political and market forces and dislocations beyond our control could reduce demand for our solutions and harm our business. The demand for our solutions may be impacted by domestic and international factors that are beyond our control, including macroeconomic, political and market conditions, global supply chain disruption, the availability of short-term and long-term funding and capital, the level and volatility of interest rates, currency exchange rates, and inflation.”

Annual report 2025A · The company itself

“With operations in 15 countries, we provide services to the insurance industry worldwide, including operations in various developing nations. Both current and future foreign operations could be adversely affected by unfavorable geopolitical developments, including legal and regulatory changes; tax changes; changes in trade policies; changes to visa or immigration policies; regulatory restrictions; government leadership changes; political events and upheaval; sociopolitical instability; social, political or economic instability resulting from climate change; and nationalization of our operations without compensation.”

Annual report 2025A · The company itself

“Table of Contents Financial and Economic Risks Related to Our Business General economic, political and market forces and dislocations beyond our control could reduce demand for our solutions and harm our business. The demand for our solutions may be impacted by domestic and international factors that are beyond our control, including macroeconomic, political and market conditions, global supply chain disruption, the availability of short-term and long-term funding and capital, the level and volatility of interest rates, currency exchange rates, and inflation.”

Annual report 2025A · The company itself

“International Underwriting Solutions We continue to expand our footprint of data and solutions to include international markets. Our access to international insurance markets grew through acquisitions and today serve a large number of insurers operating in the Canadian, United Kingdom (U.K.) and Irish P&C markets, and travel market. Additionally, our international expansion provides services to much of the Lloyd's of London market, while also serving clients in Continental Europe, Singapore, China, Australia, and New Zealand.”

Annual report 2025A · The company itself

“Approximately 57% of our employees are based in the United States, 11% in the United Kingdom, 11% in India, with the remainder serving in 18 other countries across the globe.”

Annual report 2025A · The company itself

“Approximately 57% of our employees are based in the United States, 11% in the United Kingdom, 11% in India, with the remainder serving in 18 other countries across the globe.”

Annual report 2025A · The company itself