Verisk has acquired Nasdaq's Simplitium Limited, enhancing its risk modeling services by providing access to over 300 third-party models to better address global insurance protection gaps.

Information on the Target

Verisk, a prominent global data analytics and technology provider, has made the strategic move to acquire Simplitium Limited, a subsidiary of Nasdaq. Simplitium operates the Nasdaq Risk Modelling for Catastrophes (NRMC) platform, which is a SaaS offering that supports an open ecosystem where specialized model partners create and share their models, hazard data, and analytics. This acquisition aims to enhance the capabilities of (re)insurers and brokers by providing them access to over 300 third-party models, thereby enabling better assessment and management of risks associated with global insurance protection gaps.

The NRMC platform uses the OASIS Loss Modelling Framework, recognized as the industry standard for open-source catastrophe risk modeling. Its cloud-based delivery allows clients to access a broad range of models, enabling them to evaluate potential losses through various analytical lenses tailored to their specific business requirements.

Industry Overview in the Target’s Specific Country

In the wake of increasing global hazards, the demand for advanced risk modeling in the insurance industry is growing. The industry in the United States, where Verisk is headquartered, is characterized by a significant re