Verisk Analytics: A Value-Driven Pricing Strategy In Play But Is It Working?

Verisk Analytics, a leading data analytics company primarily serving the insurance industry, reported robust financial results for the fourth quarter and full year 2024. A key highlight of the quarter was an 11% growth in subscription revenues, driven mainly by a surge in demand for their analytics and software services and successful conversion of transactional contracts to subscription-based contracts. For the fourth quarter, Verisk achieved an 8.6% increase in organic constant currency (OCC) revenue, largely propelled by sales momentum and incidental benefits from storm-related activities, particularly hurricanes Helene and Milton. However, it’s noteworthy that despite these storm-related contributions, overall transactional revenues saw a slight decline due to a strategic shift towards subscription contracts.