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Verisk Adds BuildFax Solutions to Duck Creek's Platform

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Zacks Equity Research
·2 min read
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Verisk Analytics, Inc. VRSK and Duck Creek Technologies DCT yesterday announced the integration of Verisk’s BuildFax solutions with Duck Creek’s Content Exchange. Insurance carriers who use Duck Creek’s software now have access to BuildFax solutions and are capable of making informed rating and underwriting decisions.

BuildFax provides property condition and history data for insurance and financial institutions. Its solutions include Roof Age, Property Condition Score, and Major Systems Insights that provide important information on a property’s condition in terms of age of roof and maintenance updates on plumbing, electrical, and mechanical systems. Duck Creek is a provider of core system solutions for the property/casualty insurance industry.

Jonathan Kanarek, managing director of BuildFax, stated, “By integrating these BuildFax solutions into Duck Creek’s Platform, we’re making it simple for Duck Creek’s customers to access updated and detailed information about property conditions and help policyholders get the coverage they need.”

The move is expected to strengthen Verisk’s competitive position against peers such as CoreLogic CLGX and IHS Mark INFO it and should boost Verisk’s underwriting & rating category within the company's Insurance segment. Notably, underwriting and rating revenues of $343.5 million rose 9.1% and the insurance segment revenues were up 3.3% year over year in the second quarter of 2020.

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CoreLogic, Inc. (CLGX) : Free Stock Analysis Report
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