{"id":687559,"date":"2022-09-21T09:42:00","date_gmt":"2022-09-21T13:42:00","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/"},"modified":"2022-09-21T09:42:00","modified_gmt":"2022-09-21T13:42:00","slug":"blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/","title":{"rendered":"Blitz Tackles Growing Cannabis Insurance Market with Verisk Solutions"},"content":{"rendered":"<h2>\nSpecialty Insurance Carrier Uses Verisk\u2019s High-Quality, Small Commercial Analytics, Automated Rating Updates, and Enhanced Policy Language to Insure Cannabis and Other Emerging Businesses<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>JERSEY CITY, N.J., Sept.  21, 2022  (GLOBE NEWSWIRE) &#8212; InsurTech startup Blitz is leveraging powerful underwriting insights, automated rating updates, and enhanced policy language from Verisk (Nasdaq: VRSK), a leading global data analytics provider, to help cannabis and other specialty businesses more easily obtain insurance.<\/p>\n<p>Blitz, which insures cannabis and other hard-to-place or underserved, small-to-medium sized businesses, is implementing a variety of Verisk solutions to help boost efficiency and support profitable growth.<\/p>\n<p>\u201cWe believe there\u2019s a faster, simpler, and smarter way to get specialty coverage and serve more customers,\u201d said Cliff Karlin, president of insurance, Blitz. \u201cVerisk\u2019s solutions will help us integrate new rating content, shorten submission forms, and accelerate quote generation and policy issuance.\u201d<\/p>\n<p>Blitz is using several Verisk solutions, including:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:8pt\">\n          <strong>LightSpeed<\/strong><br \/>\n          <sup><br \/>\n            <strong>\u00ae<\/strong><br \/>\n          <\/sup><br \/>\n          <strong> Small Commercial<\/strong>: With just a business name and address, Blitz is able to integrate data and analytics from Verisk\u2019s LightSpeed into a simple, end-to-end insurance platform for brokers. LightSpeed delivers timely and actionable insights based on robust business firmographics, property details, and management information, as well as large volumes of unstructured data analyzed with artificial intelligence and machine learning.<\/li>\n<li>\n          <strong>ISO Electronic Rating <\/strong><br \/>\n          <strong>Content<\/strong><br \/>\n          <sup><br \/>\n            <strong>TM<\/strong><br \/>\n          <\/sup><br \/>\n          <strong> (ERC<\/strong><br \/>\n          <sup><br \/>\n            <strong>TM<\/strong><br \/>\n          <\/sup><br \/>\n          <strong>)<\/strong>: To help keep its rating system current with updated ISO loss costs, rules, and coverages, Blitz is using the new cloud-based version of ISO ERC. This next-generation solution is accessible via smart APIs and is significantly easier for insurers to use, integrate and test.<\/li>\n<li style=\"margin-bottom:8pt\">\n          <strong>ISO <\/strong><br \/>\n          <strong>Insurance Programs<\/strong>: To help develop its products, Blitz has leveraged the ISO Commercial Property and General Liability Programs which have been enhanced with a wide range of cannabis-related coverage options.\u00a0These programs also include 10 new hemp and cannabis-specific classifications for General Liability and 11 for Commercial Property.<\/li>\n<\/ul>\n<p>\u201cBlitz is demonstrating how an efficient, digital-first strategy, centered on excellent agent and customer experiences, can disrupt the market for specialty businesses,\u201d said Neil Spector, president of underwriting solutions at Verisk. \u201cUsing advanced analytics, automation, and policy language developed by insurance experts, Verisk can help insurers like Blitz radically transform workflows to help agents more confidently\u2014and quickly\u2014write new business.\u201d<\/p>\n<p>\n        <strong>About Verisk <\/strong>\n      <\/p>\n<p>Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qYNg0Dl9fzfGcbrEAZishK02iEidPCfqYpXz-5fojpPhU3grHYakO3HdTEuu4cq7qfu-vtJX7hX4gL64oVhHrgONhFMHg_pgsb0PHR_eiDNMxPvUP09MVZtcCNaZ9aut7GLkwjG4zoIo92-K-zqwzw==\" rel=\"nofollow noopener\" target=\"_blank\">Great Place to Work<\/a>\u00a0and fosters an\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wV4JOsijnO_uIenL_puHkWGU89h1vzytI8kOYgc-MvibvTLSoGTkNixJDHCA1xEeu37_dtDcmjuUrv4_e_HM2biPak8dT2NRnUtKfr07v3erfmCwx1_AXgDTt4pa4OU2Zn85lV6lBeVZPVK8CPbfuA==\" rel=\"nofollow noopener\" target=\"_blank\">inclusive culture<\/a>\u00a0where all team members feel they belong. For more, visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Og3AT_aO31J1py_eD_djNsnYwx8YshR2xZSDpPslQeYb3s0kLsXNxETUAsDsamnjyFPxpiIQ1m3W4QyvjwQNaw==\" rel=\"nofollow noopener\" target=\"_blank\">Verisk.com<\/a>\u00a0and the\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Og3AT_aO31J1py_eD_djNjn2S626W2MPKSu5tuNOLHw5uwZS9KnPKCcEcAXgQ8jHprokrDZG01igdCW6iBcxlB-Azg-8U8B_93PPKBjCxgk=\" rel=\"nofollow noopener\" target=\"_blank\">Verisk Newsroom<\/a>.<\/p>\n<p>\n        <strong>About <\/strong><br \/>\n        <strong>Blitz Insurance<\/strong>\n      <\/p>\n<p>Blitz is a technology-led insurance company that brings the $60B specialty market into the next generation. Focusing on hard-to-place and underserved SME customer segments, Blitz\u2019s fast and simple end-to-end insurance platform displaces the lengthy, manual insurance-buying processes that has frustrated both brokers and business customers alike.<\/p>\n<p>The company is led by a veteran team of insurance and technology experts, and founded by a Forbes-listed serial entrepreneur in insurance and real estate. The company\u2019s executive management team is comprised of leading experts in Property &amp; Casualty (P&amp;C) insurance operations, technology, underwriting, and business development, with a track record of success launching businesses.<\/p>\n<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODY1MDM2MCM1MTYzNTY4IzIyMTAwMjk=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NmU4NDA3YzItNTcyMC00NjJlLWJlNDgtZmY3MjFmNGY3MGE0LTEyMjE1ODI=\/tiny\/Insurance-Services-Office-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>David Novich\r\n201-469-2437\r\nDavid.Novich@verisk.com<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Specialty Insurance Carrier Uses Verisk\u2019s High-Quality, Small Commercial Analytics, Automated Rating Updates, and Enhanced Policy Language to Insure Cannabis and Other Emerging Businesses JERSEY CITY, N.J., Sept. 21, 2022 (GLOBE NEWSWIRE) &#8212; InsurTech startup Blitz is leveraging powerful underwriting insights, automated rating updates, and enhanced policy language from Verisk (Nasdaq: VRSK), a leading global data analytics provider, to help cannabis and other specialty businesses more easily obtain insurance. Blitz, which insures cannabis and other hard-to-place or underserved, small-to-medium sized businesses, is implementing a variety of Verisk solutions to help boost efficiency and support profitable growth. \u201cWe believe there\u2019s a faster, simpler, and smarter way to get specialty coverage and serve more customers,\u201d said Cliff Karlin, president of insurance, Blitz. \u201cVerisk\u2019s &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Blitz Tackles Growing Cannabis Insurance Market with Verisk Solutions&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-687559","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Blitz Tackles Growing Cannabis Insurance Market with Verisk Solutions - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blitz Tackles Growing Cannabis Insurance Market with Verisk Solutions - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Specialty Insurance Carrier Uses Verisk\u2019s High-Quality, Small Commercial Analytics, Automated Rating Updates, and Enhanced Policy Language to Insure Cannabis and Other Emerging Businesses JERSEY CITY, N.J., Sept. 21, 2022 (GLOBE NEWSWIRE) &#8212; InsurTech startup Blitz is leveraging powerful underwriting insights, automated rating updates, and enhanced policy language from Verisk (Nasdaq: VRSK), a leading global data analytics provider, to help cannabis and other specialty businesses more easily obtain insurance. Blitz, which insures cannabis and other hard-to-place or underserved, small-to-medium sized businesses, is implementing a variety of Verisk solutions to help boost efficiency and support profitable growth. \u201cWe believe there\u2019s a faster, simpler, and smarter way to get specialty coverage and serve more customers,\u201d said Cliff Karlin, president of insurance, Blitz. \u201cVerisk\u2019s &hellip; Continue reading &quot;Blitz Tackles Growing Cannabis Insurance Market with Verisk Solutions&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-21T13:42:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODY1MDM2MCM1MTYzNTY4IzIyMTAwMjk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Blitz Tackles Growing Cannabis Insurance Market with Verisk Solutions\",\"datePublished\":\"2022-09-21T13:42:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\\\/\"},\"wordCount\":582,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODY1MDM2MCM1MTYzNTY4IzIyMTAwMjk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\\\/\",\"name\":\"Blitz Tackles Growing Cannabis Insurance Market with Verisk Solutions - 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Blitz, which insures cannabis and other hard-to-place or underserved, small-to-medium sized businesses, is implementing a variety of Verisk solutions to help boost efficiency and support profitable growth. \u201cWe believe there\u2019s a faster, simpler, and smarter way to get specialty coverage and serve more customers,\u201d said Cliff Karlin, president of insurance, Blitz. \u201cVerisk\u2019s &hellip; Continue reading \"Blitz Tackles Growing Cannabis Insurance Market with Verisk Solutions\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/","og_site_name":"Market Newsdesk","article_published_time":"2022-09-21T13:42:00+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODY1MDM2MCM1MTYzNTY4IzIyMTAwMjk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Blitz Tackles Growing Cannabis Insurance Market with Verisk Solutions","datePublished":"2022-09-21T13:42:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/"},"wordCount":582,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODY1MDM2MCM1MTYzNTY4IzIyMTAwMjk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/blitz-tackles-growing-cannabis-insurance-market-with-verisk-solutions\/","name":"Blitz Tackles Growing Cannabis Insurance Market with Verisk Solutions - 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