Lee Shavel on AI
From Verisk Analytics Inc ($VRSK) Q4 2025 Earnings Call · · Castify Earnings Call
“I recently returned from our Elevate conference in Salt Lake City where we bring together key participants in the claims process including carriers, adjusters, contractors, and other ecosystem technology partners to discuss technology development and adoption for this professional community that's dedicated to helping policyholders recover from damage to their property. At the conference, we unveiled the next generation of our AI enabled estimating products, ExactG. This product builds on a progression of AI technology that started with Exact Expert, which we launched in 2023. Exact Expert uses rules-based logic and machine learning to assist estimators with identifying discrepancies in their estimates, providing advice on what questions should be asked, and correcting errors based on their employers established rule set and experience. Exact Expert has been rapidly adopted industrywide, including by seven of the top 10 homeowners insurers and now serves tens of thousands of adjusters and estimators.”
On , Lee Shavel, Chief Executive Officer, President & Director at Verisk Analytics, Inc, spoke about AI during Verisk Analytics Inc ($VRSK) Q4 2025 Earnings Call on Castify Earnings Call.
About Lee Shavel
Lee Shavel, president and CEO of Verisk Analytics, said on the company's first-quarter 2026 earnings call that Verisk is "introducing new innovations to the market at a faster rate" and that the company won a competitive RFP to become the strategic partner of a global insurance firm for a digitally native underwriting entity. During the same call, Shavel stated that Verisk clients have "moved beyond an experimentation and an exploration phase in 2025" regarding AI and are now focused on integrating data into their functions. He characterized the sustainability of subscription growth as "strong" and noted that AI-driven enhancements were contributing to client engagement. In the prior quarter, Shavel discussed the termination of the agreement to acquire Aculinks, citing an extended FTC review as a factor, and announced a $1.5 billion accelerated share repurchase program. He highlighted that Verisk's data sets and insurance-specific expertise create a barrier for general AI companies, and that the company's wildfire model was submitted to the California Department of Insurance, with client interest in the model increasing after the Los Angeles wildfires, which Verisk estimated would result in $28 to $35 billion in industry losses.