Verisk Cyber Data Exchange Surges Ahead as Nationwide Joins Global Effort
December 08 2020 - 7:00AM
Verisk (Nasdaq:VRSK), a leading data and analytics company,
announced today that Nationwide has joined the Verisk Cyber Data
Exchange as part of a growing effort across the insurance industry
to gain new insights into the rapidly changing world of cyber risk.
By joining the Verisk Cyber Data Exchange, Nationwide will
contribute premium and loss records to an expanding pool of
aggregated, anonymized insurance data from participating cyber
insurers around the world. In return, Nationwide will obtain access
to an interactive platform powered by the Exchange and be able to
use its robust analytics to better manage risks, develop products,
build models, and guide strategic planning.
"Understanding industry-wide cyber exposure and developing
insights into pricing and loss trends is a major challenge in
today's dynamic cyber risk landscape," said Catherine Rudow,
Nationwide's E&S/Specialty vice president of cyber insurance.
"Joining the Verisk Cyber Data Exchange will improve our access to
critical cyber insurance data and risk information, enabling us to
deliver more robust cyber protections and further expand our
leading risk solutions for consumers and businesses of all
sizes."
"Improving the collective understanding of cyber risk is a
critical step toward building a thriving marketplace for cyber
insurance coverages that ultimately protect consumers and
businesses alike," said Prashant Pai, vice president and general
manager, Verisk Cyber Solutions. "With leading insurers like
Nationwide participating in this important initiative, we can
provide one-of-a-kind market intelligence to insurers looking to
provide or enhance their cyber risk solutions."
The Cyber Data Exchange is a part of Verisk's Cyber Solutions
Suite, an end-to-end ecosystem that can help insurers and
reinsurers more quickly deliver new cyber programs or enhance
existing solutions. Powered by data on more than 100 million
organizations worldwide, the suite provides a wide range of
products and services, including a pricing, underwriting, and
distribution platform; advisory policy language and loss costs; an
applicant analytics and scoring solution; a portfolio visualization
engine; and aggregation management modeling for cyber risk.
To learn more about the Verisk Cyber Data Exchange, please
visit:
https://www.verisk.com/insurance/products/cyber-data-exchange/
To learn more about Nationwide's cyber security offerings,
please visit:
https://mls.nationwideexcessandsurplus.com/fs/products/cyber-and-professional-liability/
About Verisk Verisk (Nasdaq:VRSK) is a
leading data analytics provider serving customers in insurance,
energy and specialized markets, and financial services. Using
advanced technologies to collect and analyze billions of records,
Verisk draws on unique data assets and deep domain expertise to
provide first-to-market innovations that are integrated into
customer workflows. Verisk offers predictive analytics and decision
support solutions to customers in rating, underwriting, claims,
catastrophe and weather risk, global risk analytics, natural
resources intelligence, economic forecasting, and many other
fields. Around the world, Verisk helps customers protect people,
property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30
countries and is a member of Standard & Poor's S&P 500®
Index and part of the Nasdaq 100 Index.
In 2018 and 2019, Forbes magazine named Verisk to its World's
Best Employers list. For more information, please visit
www.verisk.com.
About Nationwide
Nationwide, a Fortune 100 company based in
Columbus, Ohio, is one of the largest and strongest diversified
insurance and financial services organizations in the United
States. Nationwide is rated A+ by both A.M. Best and Standard &
Poor's. An industry leader in driving customer-focused innovation,
Nationwide provides a full range of insurance and financial
services products including auto, business, homeowners, farm and
life insurance; public and private sector retirement plans,
annuities and mutual funds; excess & surplus, specialty and
surety; pet, motorcycle, and boat insurance. For more
information, visit www.nationwide.com. Follow us
on Facebook and Twitter.
# # # #
Media Contacts:
Joseph Madden Verisk Public Relations 201-232-4486
Joseph.Madden@verisk.com
Brett Garrison Edelman (for Verisk) 212-639-4903
Brett.Garrison@edelman.com
Lyndsey Kleven Nationwide Public Relations 614-507-0485
klevel1@nationwide.com
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