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Verisk Analytics launches climate division

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Verisk Analytics Inc. has launched a new division, Verisk Climate, to provide solutions for managing enterprise climate and environmental risks.

The division aims to increase service to customers during high-impact events and improve resilience to the effects of environmental extremes, Verisk said in a statement Wednesday.

Kyle Beatty, former senior vice president of Verisk’s atmospheric and environmental research unit, has been named division president of Verisk Climate, according to the statement.

"Our division's focus is to bring market-leading insight on the business impact of weather and environmental extremes," Mr. Beatty said in the statement.

"Verisk Climate is fundamentally different than a weather forecasting company: The breadth of our scientific knowledge, our access to environmental big data, our ability to transform that data into decision analytics, and the integration we offer into clients’ workflows through Verisk software platforms allow us to effect change in unprecedented ways,” he said.

The solutions also can be used for supply chain management by manufacturers, suppliers and distributors for product demand forecasts, along with helping to mitigate climate and environmental disruption risks to manufacturing facilities and suppliers, according to the statement.

"Verisk Climate's land surface terrain analytics are providing unprecedented information regarding a site's risk characteristics, including property slope, complexity of terrain, and site accessibility, which can be used to further refine the 20 million property valuations conducted in Verisk Insurance Solutions underwriting platforms each year," Neil Spector, president of Verisk Insurance Solutions Underwriting, said in the statement.

The Verisk Climate division is headquartered in Lexington, Mass.