Verisk Analytics, Inc.’s (VRSK - Free Report) business — GeomniTM — unveiled a new subscription service, Geomni Vision.
Through this service, customers can access geospatial data for structures and parcels throughout the United States, with the help of high-resolution aerial oblique and orthogonal imagery libraries and related tools (which includes viewer, arc-GIS plug-ins, post-catastrophe machine learning data).
Geomni Vision can be accessed through Geomni`s online web viewer via plug-in applications such as ArcMap and ArcGIS Pro or with other solutions that use industry-standard WMTS APIs.
Geomni uses remote sensing technologies to refresh the aerial imagery library.
Comments From Management
Jeffrey C. Taylor, president of Geomni, stated, "The new service will significantly improve the way customers approach underwriting and insurance claims."
He further added, "Having access to the most current orthogonal and oblique aerial imagery, along with all the measurement tools, will be a vital asset to customers for risk assessment in their front-end underwriting process, resource deployment, claims processing, and claims project management.”
The launchis expected to help Verisk enhance its Insurance segment, which provides underwriting and ratings, and claims insurance data for the U.S. property and casualty ("P&C") insurance industry.
Performance of the segment was strong in the last reported quarter with revenues increasing 7.6% year over year on a reported basis, 6.2% organically and 6.4% on an organic constant currency basis in the last reported quarter. The segment contributed the largest chunk (around 71%) to Verisk’s fourth-quarter 2018 revenues.
Zacks Rank & Stocks to Consider
Currently, Verisk carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector are Omnicom (OMC - Free Report) , Robert Half (RHI - Free Report) and Automatic Data Processing (ADP - Free Report) . While Robert Half sports a Zacks Rank #1, Omnicom and Automatic Data Processing carry a Zacks Rank #2 (Buy).
Long-term expected EPS (three to five years) growth rate for Omnicom, Robert Half and Automatic Data Processing is 6.9%, 8.4% and 12.8%, respectively.
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