Earnix, the leading global provider of AI-based SaaS solutions for financial services, today announced that it has entered into a strategic collaboration with Verisk, a leading global data analytics and technology provider. This integration will enable Earnix to integrate Verisk’s ISO Electronic Rating Content™ (ERC™) into its pricing and rating platform, empowering insurers to enhance accuracy, reduce delivery time, facilitate regulatory compliance, and drive better business outcomes in the commercial insurance market.
With this integration, commercial line insurers can leverage Earnix’s end-to-end solution for advanced analytics, rating and pricing while also operationalizing the strategic value of Verisk’s ISO ERC™ all within a single environment. This level of efficiency can significantly impact the speed with which insurers can bring new rates to market, providing a strong competitive advantage.
Verisk’s ISO ERC™ is the market standard for commercial rating content, covering aspects of rating related information and rules logic for various products across a variety of commercial lines in the property and casualty industry in the U.S. By integrating Verisk’s ISO ERC™ into the Earnix Price-It Platform, insurers will have access to updated loss cost and rating tables, allowing them to make more informed pricing and rating decisions.
“After a tumultuous 2023, insurers recognized the critical need to be quick to respond to market changes,” said Ruth Fisk, Head of Business Development at Earnix. “By integrating Verisk’s ISO ERC™, we are providing commercial insurers the ability to stay a step ahead in serving their customers with not only speed to market, but also flexibility and ultimately better business outcomes.”
“The use of Verisk’s ISO ERC™ will position insurers on Earnix’s platform to be much more competitive by giving them the ability to improve speed to market over existing manual methods,” said Ron Beiderman, Senior Vice President at Verisk.
About Earnix
Earnix is the premier provider of mission-critical, cloud-based intelligent solutions across pricing, underwriting, rating, and product personalization. These fully integrated solutions provide ultra-fast ROI and are designed to transform how global insurers and banks are run by unlocking value across all facets of the business. Earnix has been innovating for insurers and banks since 2001, with customers in over 35 countries across six continents and offices in the Americas, Europe, Asia Pacific, and Israel.
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About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud, and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research, and deep industry knowledge, Verisk helps build global resilience for individuals, communities, and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.
