GlobeNewswire Inc | Mar 3, 2021 10:00AM EST

March 03, 2021

JERSEY CITY, N.J., March 03, 2021 (GLOBE NEWSWIRE) -- Verisk (Nasdaq:VRSK), a leading global data analytics provider, has introduced VeriskPayTM, a digital payment solution that allows Verisk customers to rapidly receive and issue digital payments. Leveraging technology and expertise from Fiserv, Inc., a leading global provider of payments and financial services technology solutions, VeriskPay enables digital payments and payouts from within Property Preservation WizardTM, a work order management solution developed by Verisks Xactware business.

Property insurance, remodeling, restoration, and mortgage and lending businesses will be able to manage and deliver same-day payouts via their customers and vendors preferred platforms be it a traditional bank account, prepaid card or digital wallet. This connectivity is made possible by the Carat ecosystem from Fiserv, which securely delivers payment opportunities across the most popular channels and devices, allowing businesses to realize new customer experiences.

A growing number of consumers and businesses value speed and convenience when sending and receiving payment, said Mark Anquillare, chief operating officer and group president of Verisk. By partnering with Fiserv, were digitizing Verisk customers payment processes to better serve their clients and develop stronger business relationships with their vendors.

VeriskPay is currently integrated into Property Preservation Wizard. Verisk will soon integrate VeriskPay into other solutions and services, to help Verisk customers better manage payment processes across the insurance value chain, without the need to rely on third-party applications or services.

Streamlining how payments are made and funds are paid out is critical to digital transformation, said Nandan Sheth, Head of Carat and Digital Commerce at Fiserv. As businesses work to meet consumer expectations for increased speed and convenience, paying out funds digitally will enhance efficiency, shorten payment cycles and facilitate a more personalized experience.

For more information, visit Verisk.com.

About VeriskVerisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the companys advanced technologies to manage risks, make better decisions and improve operating efficiency. The companys analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social and governance (ESG) matters. Celebrating its 50thanniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverseculturewhereallteam members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification byGreat Place to Work. For more:Verisk.com,LinkedIn,Twitter,FacebookandYouTube.

Media Contact:Brett GarrisonEdelman (for Verisk)917-639-4903Brett.Garrison@edelman.com