Verisk Analytics, Inc., a leading global provider of data analytics and technology, has announced the release of its latest innovation in the statistical reporting arena. The company’s newly introduced Statistical Services accelerator, now available on the Guidewire Marketplace, is poised to revolutionize the way insurers handle complex data extraction processes. This advanced tool aims to significantly streamline insurers’ ability to meet statistical reporting and regulatory requirements, enhancing both operational efficiency and consistency in the industry’s data reporting practices.
Statistical reporting has typically been a cumbersome and intricate process for insurers, requiring substantial investments of time, technology, and expertise. Inefficient data collection methods often lead to costly errors, budget overruns, and excessively lengthy project timelines. Verisk’s new offering is built on over five decades of experience in the statistical reporting field, providing a cutting-edge solution to modernize the compliance functions within the insurance ecosystem. By automating these processes, the Statistical Services accelerator drastically reduces the manual effort and potential for human error, representing a substantial leap forward for the industry.
Key Features and Benefits
Verisk Analytics, Inc., a global leader in data analytics and technology, has unveiled its latest innovation in statistical reporting. The new Statistical Services accelerator, available on the Guidewire Marketplace, is set to transform how insurers manage complex data extraction. This advanced tool aims to optimize insurers’ ability to meet statistical reporting and regulatory demands, boosting operational efficiency and standardizing data reporting practices in the industry.
Historically, statistical reporting has been an arduous and complex task for insurers, requiring hefty investments of time, technology, and expertise. Ineffective data collection methods often result in costly mistakes, budget overruns, and protracted project timelines. Verisk’s new solution benefits from over five decades of experience in statistical reporting, offering a state-of-the-art tool to modernize compliance functions within the insurance sector. By automating the process, the Statistical Services accelerator significantly reduces manual labor and the risk of human error, representing a major advancement for the industry.
