To better assist its customers in managing enterprise climate and environmental risks, Verisk Analytics has formed Verisk Climate. The new division, which is headquartered in Lexington, Massachusetts, will expand service to Verisk customers during high-impact events.

“[Our clients] in insurance, in government, and across the supply chain are increasingly voicing concern [about how] climate volatility and environmental extremes are [impacting] their operations and earnings,” explains Scott Stephenson, president and CEO at Verisk Analytics. “The climate division [will] introduce weather and environmental analytics [to] enable our clients to assess and plan for environmental impacts [while] implementing new strategies to differentiate and grow their businesses despite those impacts.”

According to Stephenson, integrated solutions leveraging the data and platforms of Verisk's other operating units provide the means by which companies can enhance their resilience in the face of growing weather extremes. To his point, the new division will draw upon insights afforded by Verisk's Atmospheric and Environmental Research (AER) unit. Kyle Beatty, the former senior vice president of AER, has been appointed president of Verisk Climate. In his previous role, Beatty was responsible for introducing products that translate the effects of climate into decision analytics for manufacturers, insurers, and commodities traders.