Verisk: Trailblazing in the Big Data Jungle
This case revolves around Verisk Analytics' initiatives to drive innovation throughout the firm's many business verticals. Verisk, originally named ISO, started life as an insurance rating agency in the early 1970s, acting as an intermediary between insurance companies and state governments. Over time, the firm transformed from being a non-profit to a for-profit entity, while expanding its lines of business to realms other than insurance. By both exploring the history of the insurance industry and Verisk's unique position within it, the case provides readers with an understanding of the firm's growth strategy and why innovation is so crucial for its success. The case leaves readers to ponder Verisk's innovation and growth strategy, challenging them to assess its strengths and weaknesses.