Verisk Analytics, Inc.

Verisk Analytics, Inc. is an American data, analytics, and technology company that serves as the dominant information utility for the global property and casualty insurance industry, generating $3.07 billion in revenue in fiscal 2025. Its proprietary databases, actuarial models, and software platforms are embedded in the underwriting, pricing, claims, and catastrophe-modeling workflows of virtually every major P&C insurer in the United States. The company operates a single segment — Insurance — following the February 2023 divestiture of its energy business, and derives approximately 83% of revenue from annual subscriptions, a structure that produces 54% EBITDA margins and powerful free cash flow conversion.

This is a story about a regulatory-and-data moat meeting a technology inflection point. Verisk occupies a position in insurance that has no direct parallel in other industries: a for-profit company that simultaneously serves as the industry's statistical agent to 50 state regulators, the author of standardized policy language tested in decades of litigation, the compiler of the world's largest P&C claims database, and the pioneer of probabilistic catastrophe modeling used in more than 120 countries. The question the file turns on is whether artificial intelligence strengthens that position — by making Verisk's unique data assets more valuable as AI training inputs and integration layers — or weakens it, by enabling carriers and new entrants to replicate analytical capabilities that were once scarce.

The capital allocation frame has shifted decisively. In the first half of 2026 alone, Verisk executed $1.7 billion in accelerated share repurchases, funded partly with new debt, shrinking the diluted share count by nearly 7% year over year. The board raised the repurchase authorization to $2.5 billion and increased the dividend 11% to $2.00 per share annually. The market appears to value Verisk primarily as a compounder with a wide moat; whether the moat is widening or narrowing as AI reshapes insurance analytics is the debate that matters.