Verisk (Nasdaq: VRSK), a leading global data analytics provider, today announced that Tim Rayner has been named CEO and president of the company’s Verisk Specialty Business Solutions (formerly known as Sequel), effective immediately.
An insurance industry veteran of more than 20 years, Rayner most recently served as Chief Experience Officer for Verisk Specialty Business Solutions. He played an active role in the acquisition and integration of the Whitespace and Ignite businesses. He joined Verisk in February 2018, after holding several leadership roles of increasing responsibility at Miller Insurance Services.
“Those of us who work closely with Tim have been impressed by his customer focus, leadership acumen and his vision for the future of insurance. Verisk Specialty Business Solutions occupies a coveted position in the marketplace, and Tim is the right leader to accelerate the business’ momentum,” said Mark Anquillare, president and COO, Verisk.
Verisk and Specialty Business Solutions are the number one and two most trusted brands in the London insurance technology market, according to the Independent Gracechurch Technology Monitor Report 2022. In addition to organically growing its innovative solutions, Verisk has also made strategic acquisitions to support the Specialty Business Solutions strategy including Whitespace and Ignite, which enhanced the company’s capabilities and position in the market.
Verisk Specialty Business Solutions collaborates with customers to develop data and application programming interface (API) standards for the London Market. Its most recent initiative, Sequel Hub, standardises messaging and automatically interprets, translates and routes messages between brokers, carriers, delegated authorities and market systems, bringing incredible efficiency to distribution workflows.
“I’m incredibly excited and humbled to take on this role,” Rayner said. “No other company has the technology, unique data sets, insights and deep domain expertise that Verisk offers, and I am thrilled to bring those resources to bear for our customer by building an automated and integrated ecosystem that improves the efficiency and productivity of the entire insurance value chain.”