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Verisk launches EV Database for UK and Irish motor insurance markets

Written by Customer Service on . Posted in Public Companies.

LONDON, Oct. 12, 2022 (GLOBE NEWSWIRE) — The number of electric vehicles sold in the UK and Ireland continues to rise. The risk profile of cars on the road is changing, making access to technical electric vehicle data critical for insurers and brokers. To help support strategic underwriting and pricing decision making, Verisk (Nasdaq: VRSK), a leading global data analytics provider, announced the launch of its Electric Vehicle Database for the UK and Ireland.

Verisk’s Electric Vehicle Database is a proprietary, technical dataset for all new and existing models of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). The Database provides insurers, brokers, and MGAs with a pivotal advantage in the electric vehicle space, with access to over 175 technical attributes. These attributes include an EV’s battery, efficiency, and performance, as well as information on each vehicle’s acceleration, top speed, range of a single charge in different conditions, battery capacity, charger location and warranty period.

“We’ve entered the electric motor age, and Verisk is uniquely equipped to help insurers to create new rating attributes for prediction of risk associated with EVs,” said Jonathan Guard, commercial director, Ireland, Verisk. “Verisk is working with its customers to bring new datasets and services that help them to continue to make well-informed decisions as technologies and regulations change.”

All of the electric vehicle datasets are available via batch append services or through Verisk’s Data Insight Hub, a continuously expanding source of insurance data and analytics accessible at any part of the customer journey, including the point of quote.

Verisk is a leading provider of motor vehicle data and services to insurers, MGAs and brokers in the UK and Irish market. Such services include matching vehicle registrations to rating code groups, claims alerts, technical data and new datasets such as windscreen data. The Verisk Data Insights Hub provides these datasets and services, including the Electric Vehicle Database in a fast automated API service that meets the needs of the market’s point of quote services.

About Verisk
Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.

CONTACT: David Novich
201-469-2437
David.Novich@verisk.com

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