Summary
On July 8, 2025, Verisk Analytics Inc (VRSK, Financial), a global leader in data analytics and technology, announced a strategic partnership with OneClick Data, Inc. (OneClick Code). This collaboration integrates OneClick Code's comprehensive building code data into Verisk's Xactware® platform, enhancing property estimating and claims solutions for insurance professionals. The integration aims to provide instant access to jurisdiction-specific building code details, improving the accuracy and efficiency of claims processing.
Positive Aspects
- Instant access to comprehensive building code data for claims professionals.
- Improved accuracy and efficiency in claims resolution.
- Expansion of OneClick Code's offerings within the Verisk Ecosystem to include exterior building code data.
- Coverage across 32,000 municipalities, representing over 99% of U.S. street addresses.
Negative Aspects
- Potential dependency on the integration for accurate claims processing.
- Initial adaptation period for users to familiarize themselves with the new system.
Financial Analyst Perspective
From a financial standpoint, this partnership could enhance Verisk's value proposition by offering more comprehensive solutions to its clients, potentially leading to increased customer retention and acquisition. The integration of OneClick Code's data could also streamline operations, reducing costs associated with claims processing and improving overall profitability for Verisk.
Market Research Analyst Perspective
This collaboration positions Verisk as a more robust player in the property insurance and claims industry. By expanding its Partner Ecosystem, Verisk can offer more integrated solutions, which may attract a broader client base. The move also reflects a growing trend in the industry towards leveraging data analytics to improve operational efficiency and customer satisfaction.
FAQ
What is the main purpose of the partnership between Verisk and OneClick Code?
The partnership aims to integrate OneClick Code's building code data into Verisk's Xactware platform to enhance claims processing efficiency and accuracy.
What benefits does the integration offer to claims professionals?
Claims professionals will have instant access to jurisdiction-specific building code details, improving the speed and accuracy of claims resolution.
How extensive is OneClick Code's coverage?
OneClick Code offers nationwide coverage across 32,000 municipalities, covering over 99% of U.S. street addresses.
Read the original press release here.
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