Verisk Analytics, Inc. VRSK

The business

Verisk sells data, analytics, and workflow tools to the property-and-casualty insurance industry: the rating and underwriting data that insurers use to price policies, and the claims-estimating tools (Xactimate and the like) that settle losses. After a multi-year portfolio cleanup, it divested its energy business (Wood Mackenzie, sold for $3.1B), its financial-services unit, its environmental-health-and-safety business, and most recently its marketing-solutions arm, leaving a focused insurance data-and-analytics company. The business runs in two segments: Underwriting, the larger engine at roughly $552M of quarterly revenue, and Claims at roughly $231M. The segment doing most of the work is Underwriting, at around 70% of revenue and the higher-margin half of the franchise. The leading indicator that matters is organic subscription growth in Insurance: more than 80% of revenue is annual subscriptions or long-term, typically prepaid agreements, and that subscription line grew about 7% in the first quarter of 2026 even as total organic constant-currency growth ran 4.7%.

What the financials do not show is how embedded these tools are in insurer operations: the rating data is woven into how policies get priced across most of the United States P&C market, and the claims tools sit inside the adjusters' daily workflow, which is why retention runs high and pricing sticks year after year. The change in the last few quarters is mechanical and important to read correctly: reported revenue is being dragged by the divestitures (management flagged that Q1 2026 reported revenue would be down low-single-digits versus a year earlier purely because of the Verisk Marketing Solutions sale), which makes the headline look soft while the underlying organic engine keeps running mid-single-digits with subscriptions at 7%.