Verisk said it appointed Lee M. Shavel to CEO and Mark V. Anquillare to president following the company’s annual shareholder meeting. Shavel was also elected to the Verisk Board of Directors.
Three new independent directors, nominated by the company, were elected to the company’s Board of Directors: Jeffrey Dailey, Wendy Lane and Kimberly S. Stevenson.
In February Verisk announced Scott G. Stephenson, chairman, president and CEO, would be retiring following the company’s 2022 shareholder meeting.
“Verisk has a profound opportunity to help the insurance industry evolve in a new digital environment, integrate and activate rapidly growing data sets and achieve new levels of efficiency. With our industry knowledge, technical expertise and established client relationships, we are uniquely positioned to address their needs as an essential technology partner,” Shavel said. “I’m humbled to assume the role of Verisk CEO, and I will be focused on value creation for our customers, colleagues and shareholders. This is a great responsibility and one I truly cherish.”
Most recently Shavel served as CFO and group president for Verisk. Anquillare served as COO and group president. Shavel and Anquillare have been architects and drivers of Verisk’s growth, increased efficiency and an innovation agenda.
Shavel’s replacement as CFO will be named at a later date.
Verisk serves the insurance, energy, real estate and financial services industries. It is the leading provider of statistical, actuarial and underwriting data for the U.S. property/casualty insurance industry.
Verisk was established to serve as the parent holding company of Insurance Services Office, Inc. upon the completion of the initial public offering in 2009. ISO was formed in 1971 as an advisory and rating organization for the property/casualty insurance industry to provide statistical and actuarial services, develop insurance programs, and assist insurance companies in meeting state regulatory requirements.
Over the past decade, Verisk has entered new markets, placed a greater emphasis on analytics, and pursued acquisitions. Among its acquisitions are Data Driven Safety, ACTINEO, Jornaya, Franco Signor, FAST, BuildFax, Genscape and Keystone Aerial Surveys, Rulebook, PowerAdvocate, Sequel, LCI, Fintellix, G2 , Greentech Media, Validus-IVC, MAKE, MarketStance, Arium, Healix Risk Rating, The GeoInformation Group, Analyze Re, Risk Intelligence Ireland, Emergent Network Intelligence and 4C Solutions.
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