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Verisk Analytics Inc.: PCS and IUC Launch Catastrophe Loss Aggregation Service for Turkey

JERSEY CITY, N.J. AND ISTANBUL, TURKEY, MAY 27, 2015 - Property Claim Services
(PCS) and Istanbul Underwriting Center (IUC) are excited to announce the
launch of PCS Turkey. This new service will deliver industrywide catastrophe
loss estimates for events occurring throughout Turkey. Insurers, reinsurers,
and other risk transfer professionals will be able to use the estimates
published by PCS Turkey to improve risk and capital management. PCS is a
Verisk Analytics (Nasdaq:VRSK) business.

Like PCS in the United States and Canada, PCS Turkey will use projected
ultimate loss estimates from insurance industry participants to aggregate
industrywide loss and estimated claim counts by CRESTA zone for events caused
by all natural and man-made perils. Events with at least $10 million in
projected insured property losses will receive catastrophe designation, and
the reports will include industrywide loss estimates for:

* residential: building and contents
* auto: residential and commercial
* commercial: building, contents, and business interruption

To determine whether PCS Turkey should evaluate an event, members of the PCS
and IUC teams will review events likely to reach the $10 million threshold to
decide when they should contact industry participants to supply projected
ultimate loss estimates. If the claim types and volume suggest that an event
could be a catastrophe, PCS Turkey will issue a catastrophe designation
bulletin - with versions in Turkish and English.

Following event designation, PCS and IUC will review the submitted data to
develop catastrophe loss estimates, which are communicated through bulletins
- similar to the process PCS uses in the United States and Canada. PCS Turkey
will resurvey each event until it considers an event closed - when loss
development has stabilized and no significant unknowns exist that could
substantially affect the overall industrywide insured loss.

Additionally, PCS and IUC will work together to source global speakers for
local conferences on topics useful to the Turkish insurance industry.

"I'm honored to have the opportunity to collaborate with the IUC on a new loss
aggregation service," said Joe Louwagie, assistant vice president of PCS. "In
addition to developing insured loss estimates and sharing best practices from
around the world that will help insurers in Turkey manage their operations
more effectively, the launch of PCS Turkey provides a much needed opportunity
to help the global reinsurance and insurance-linked securities community with
respect to transferring risk more effectively and optimizing capital

"Working with PCS, IUC has the opportunity to provide an even greater set of
services to the Turkish insurance market, demonstrating our commitment to our
clients across the country," said Menekse Uçaroglu, general manager at IUC.
"We look forward to helping the industry improve how it manages catastrophe
response, risk, and capital to help improve both customer service and
shareholder value."

About Verisk Analytics

Verisk Analytics (Nasdaq:VRSK) is a leading data analytics provider serving
customers in insurance, healthcare, financial services, government, and risk
management. Using advanced technologies to collect and analyze billions of
records, Verisk Analytics draws on vast industry expertise and unique
proprietary data sets to provide predictive analytics and decision support
solutions in fraud prevention, actuarial science, insurance coverages, fire
protection, catastrophe and weather risk, data management, and many other
fields. In the United States and around the world, Verisk Analytics helps
customers protect people, property, and financial assets. For more

About Istanbul Underwriting Center

Istanbul Underwriting Center is a management and consultancy services group
that operates in the insurance area and was established to add quantifiable
value to processes such as claims, product development and administration,
reinsurance, loss adjusting, and training. Our five different brands provide
services in addition to the technical processes of insurers. We serve
corporate businesses, small and medium-sized enterprises, and more than 1
million retail customers. For more information,

As IUC, we are proudly completing our ninth year of activity by setting even
more ambitious goals for the future. Since our foundation, we have been
following two principles. The first one is providing "measurable, real
benefits" to insurance companies that are fundamental for insurance business.
The second one refers to increasing and diversifying our "no cure, no pay"


Giuseppe Barone/Colleen Finley
MWW Group (for Verisk Analytics)
+1 201 507 9500

Menekse Uçaroglu
Istanbul Underwriting Center
+90 212 3283333


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Verisk Analytics Inc. via Globenewswire


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