LONDON, UK, March 05, 2024 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading
global data analytics and technology provider, is pleased to announce that
Hastings Direct, the technology driven UK insurance provider, is enhancing its
household underwriting service capabilities through licensing Verisk's
UKBuildings (https://www.verisk.com/en-gb/insurance/products/ukbuildings-for-
underwriting/).
UKBuildings is a comprehensive and highly granular property database for an
organisation or industry interested in accurate buildings data including, but
not limited to residential and commercial insurance underwriters.
The addition of Verisk's UKBuildings data to Hastings Direct's underwriting
services toolkit will enable the company to refine its risk assessment and
underwriting analysis to meet the needs of its insurance underwriter by
providing valuable insights into various property attributes, including
basements.
"Following the completion of a rigorous data test affirming the reliability and
accuracy of Verisk's UKBuildings, we were particularly impressed by the
solution's high level of detail and its ability to identify residential
properties with basements," says Simon Parker, Head of Household Underwriting,
Hastings Direct. "The rich dataset will empower more informed decisions,
strengthen risk management capabilities, and ultimately enhance the overall
customer experience."
Alex Croydon, managing director of general insurance UK at Verisk, added: "We
are excited to support Hastings in its mission to accelerate growth and improve
its household insurance book. Our UKBuildings data is designed to help provide
insurers with a comprehensive understanding of property attributes, and we are
confident that this collaboration will yield positive outcomes for both
parties."
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 (https://www.greatplacetowork.com/certified-company/1288593) and fosters
an inclusive culture (https://www.verisk.com/about/inclusion-diversity-
belonging/) where all team members feel they belong. For more, visit Verisk.com
(https://www.verisk.com/) and the Verisk Newsroom
(https://www.verisk.com/newsroom/).
About Hastings
Founded in 1996 in Bexhill-on-Sea on the Sussex coast, the Hastings Group is one
of the leading general insurance providers to the UK market, with 3.5 million
live customer policies and employing over 3,300 colleagues.
The Group provides simple and straightforward products and services to UK car,
bike, van, and home insurance customers with around 90% of policies directly
underwritten by its Gibraltar-based Underwriting business, Advantage Insurance
Company Limited.
For more information visit the Hastings Group website.
(https://www.hastingsgroup.uk/)
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