Verisk Enhances Its Portfolio with the Acquisition of Simplitium Limited

Verisk Acquires Nasdaq Subsidiary Simplitium LimitedData analytics and technology giant Verisk has successfully acquired Nasdaq’s subsidiary, Simplitium Limited. This acquisition includes ownership and operation of the Nasdaq Risk Modelling for Catastrophes (NRMC).Understanding NRMC’s Role and ImpactDescribed as a Software as a Service (SaaS) platform, NRMC is renowned for fostering an open ecosystem. It facilitates the sharing of specialised models, hazard data, and analytics among partners, aiming to bridge the global insurance protection gap more effectively.Built on Open Standards, the platform is designed to standardize and streamline data exchange processes. This empowers re/insurers to enhance their catastrophe risk strategies with greater precision and efficiency.NRMC operates on the OASIS Loss Modelling Framework, which is recognized as the industry standard for open-source catastrophe risk modelling. Delivered as a cloud-based service, it grants clients access to a diverse range of models, including support for in-house developed models. This capability allows users to evaluate multiple perspectives of risk, consider potential losses through varied model lenses, and select models that best align with their business objectives.Integration into Verisk’s Extreme Event SolutionsNRMC is set to become an integral part of Verisk’s Extreme Event Solutions. This division provides advanced risk management tools, including catastrophe risk modelling, global loss indexes, and sophisticated analytics.Gayatri Natarajan, Senior Vice President of Product Management at Verisk, expressed enthusiasm about the acquisition, stating, “We’re thrilled to welcome this talented team to Verisk. Our risk modelling solutions are crucial for developing mitigation strategies and disaster financing, ultimately narrowing the insurance protection gap and reducing uncertainty. This empowers individuals to safeguard what matters most – their families, homes, and livelihoods.”She added, “Access to a broader range of risk views, especially in niche areas, enhances our clients’ decision-making capacity, bolstering resilience in communities and businesses alike.”Nasdaq’s Strategic FocusAccording to Magnus Haglind, Head of Marketplace Technology at Nasdaq, “This transaction will refine Nasdaq’s strategic focus as we aim to deepen client relationships within our Financial Technology business. We are confident that NRMC will thrive under Verisk’s ownership, given their expansive presence in catastrophe risk modelling.”

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• #Simplitium Limited
• #Verisk