# Verisk Moat

Status: published. Policy: company-analysis-1.

Verisk has a narrow moat in specialized insurance data, models and content, supported by broad insurer adoption across multiple years and realized annual price increases. Workflow integration reinforces demand, but material switching costs and self-reinforcing network effects are not demonstrated. Continued growth through June 2026 supports the current advantage; external-data dependence, cheaper substitutes and reported competitive pressure limit confidence in its durability.

## intangible_assets

Proprietary and contributory insurance data, specialized models and licensed content constitute a current differentiated asset base. Broad insurer adoption and realized pricing increases corroborate commercial value beyond management's differentiation claims.

Durability: Top-100 U.S. P&C insurer coverage is disclosed in both 2023 and 2025, and annual price increases contributed to growth in 2024 and 2026. This supports persistence, but does not establish exceptional long-term protection or ownership of all underlying data.

Risks: Underlying repository information is generally not owned; data suppliers have short-term agreements and some also compete. Free information, data-use restrictions and model shortcomings could weaken differentiation. A shareholder proposal reports realized competitive pressure in Personal Lines Auto, although this is not equivalent to management-confirmed competitive results.

Invalidation: The thesis would weaken materially if key data contributions were withdrawn without effective substitutes, comparable alternatives caused sustained customer losses, or core forms, rules and loss cost services required price concessions accompanied by declining demand.

Competitors: Not established
- [https://www.sec.gov/Archives/edgar/data/1442145/000143774926004452/vrsk20251231_10k.htm](https://www.sec.gov/Archives/edgar/data/1442145/000143774926004452/vrsk20251231_10k.htm) · 2026-02-18
- [https://www.sec.gov/Archives/edgar/data/1442145/000143774926024749/vrsk20260630_10q.htm](https://www.sec.gov/Archives/edgar/data/1442145/000143774926024749/vrsk20260630_10q.htm) · 2026-07-29
- [https://www.sec.gov/Archives/edgar/data/1442145/000119312526141398/d23242ddef14a.htm](https://www.sec.gov/Archives/edgar/data/1442145/000119312526141398/d23242ddef14a.htm) · 2026-04-03
- [https://www.sec.gov/Archives/edgar/data/1442145/000143774925005160/vrsk20241231_10k.htm](https://www.sec.gov/Archives/edgar/data/1442145/000143774925005160/vrsk20241231_10k.htm) · 2025-02-26
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- [https://www.sec.gov/Archives/edgar/data/1442145/000143774926013729/vrsk20260331_10q.htm](https://www.sec.gov/Archives/edgar/data/1442145/000143774926013729/vrsk20260331_10q.htm) · 2026-04-29

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