finsmart-news_admin 
Verisk has acquired Nasdaq subsidiary Simplitium Limited, operator of the Nasdaq Risk Modelling for Catastrophes (NRMC) platform, as part of a move to expand its catastrophe risk assessment ecosystem. The company said the acquisition will give (re)insurers and brokers access to over 300 third-party models, supporting a broader, more diversified view of global risk.
The NRMC platform operates as a cloud-based SaaS service built on the open-source OASIS Loss Modelling Framework. Verisk stated that the integration of NRMC into its Extreme Event Solutions business will help clients evaluate catastrophe exposure using multiple model perspectives, including specialized and niche risk categories.
“Narrow the insurance protection gap, reducing uncertainty and empowering people”
Gayatri Natarajan, Senior Vice President of Product Management at Verisk, commented, “We’re excited to welcome this talented team to Verisk. Verisk risk modelling powers mitigation strategies and disaster financing to narrow the insurance protection gap, reducing uncertainty and empowering people to protect what matters most – their families, homes and livelihoods. Access to more views of risk, especially covering niche areas of risk, strengthens our clients’ ability to make decisions that will deliver resiliency to our communities and businesses.”
Verisk said the acquisition supports its ongoing commitment to open standards and data transparency. NRMC’s integration with Verisk will further enhance the use of established formats such as CEDE and the Open Exposure Database (OED), allowing for more efficient data exchange and improved accuracy in catastrophe risk assessment.
The company described the transaction as part of its broader effort to deliver scalable, flexible, and interoperable solutions across the insurance value chain. Clients will be able to incorporate third-party or in-house developed models into their existing workflows to tailor risk analysis based on evolving needs.
Magnus Haglind, Head of Marketplace Technology at Nasdaq, commented, “This transaction will refine Nasdaq’s focus as we look to foster deeper client relationships within our Financial Technology business. We are pleased that NRMC will become part of an organization with a scaled presence in catastrophe risk modelling and we look forward to NRMC’s continued success under Verisk’s ownership.”
Verisk did not disclose financial terms of the acquisition and said the transaction is not expected to materially impact its financial results.
