Verisk visualize software#
There continues to be significant analytics innovation in the insurance startup world, which is seeing dramatic growth in venture capital investment, so I expect to see more acquisitions in the future.Īlso, with the rise in AI-driven technologies becoming more widespread, I expect to see more innovation-based disruption in the insurance technology space.īelow is a chart indicating the rapid growth of global venture capital investment in AI companies:įunding is expected to have reached $4.2 billion in 2016.Īs the volumes of data about supply chains and other business activities continue to grow at a startling rate, technology companies that are designed to ingest that data and use the latest software to make sense of it will be able to better optimize their client's operations. Verisk has been on an acquisition binge recently, acquiring MarketStance, Analyze Re, Quest Offshore's data and subscriptions business, Greentech Media, and Risk Intelligence Ireland in the past twelve months alone. The acquisition of Arium will extend and expand its offerings to casualty assessment, enabling significant cross-selling capabilities to its existing client base, as well as providing a more complete range of services to secure new business. Thus, the Arium approach provides AIR with a more holistic solution for its clients, many of whom want comprehensive risk management throughout their supply chains.ĪIR has been focused on property catastrophe modeling since 1987 and has clients in the insurance, reinsurance, financial, government and corporate sectors. The Arium system enables 'companies to run historical and emerging scenarios and build their own scenarios across all casualty lines to visualize how a single event can quickly spill over into other industries and their supply chains.' The two companies did not announce financial terms of the transaction.Īrium will become part of Verisk's AIR Worldwide division.Īccording to a company statement by Bill Churney, president of AIR, "We believe Arium's capabilities will allow us to do for casualty analytics what we've already done for property analytics, helping insurers and reinsurers comprehensively manage risk across their portfolios." The company has developed a modeling approach based on 'dependency theory' that promises to provide a more success-based process to reframe the problem of quantifying risk and the conditions under which companies may operate profitably.Īrium's solutions are focused on helping companies better understand 'extreme event risk' for both property and casualty catastrophe events. London, UK-based Arium (Architects for Risk Identification, Understanding, and Management) was founded in 1998 by Robin Wilkinson, who was formerly the Head of Legal Services at British Airways. I expect to see more of the same, possibly with a focus on acquiring advanced AI (Artificial Intelligence) technologies as they become more powerful and disruptive.
The acquisition is one of several that Verisk has closed in the past year as it bolsters the analytics capabilities of various subsidiaries. In the narrative mode, these stories are presented side by side with curated visualizations to exemplify the stories told.Jersey City, New Jersey-based Verisk Analytics ( NASDAQ: VRSK) announced that it has acquired risk modeling technology company Arium for an undisclosed amount.Īrium will add catastrophe risk modeling capabilities for casualty exposures to Verisk's AIR Worldwide division, which previously provided the same for property lines. From the rise in female artist in the 20th century to the correlation between an artist’s popularity and their totally auction value. Through the interactive mode the user is able to interact with the art genome data and manipulate the filters to see interesting aspects in the current art world and throughout history. Utilizing Artsy’s extensive Art Genome data we designed and developed a platform to visualize trends and identify stories within the data. The interface we built allows users to filter the entire data set by specific “genes” for example pop art and artists’ hometown.
All the categories are given a “gene” for example: gender genes, time period genes, materials genes, location genes, etc. One of the ways they achieve this goal is through the Art Genome Project, which categorizes all the art and artist in their database. Their mission is to “make all the world’s art accessible to anyone with an Internet connection.” Artsy is an online platform for all things art.