JERSEY CITY, NJ – Verisk (Nasdaq:VRSK), a leading global data analytics provider, and Bellevue, Washington-based EagleView Technology Corporation, a leading geospatial technology provider of software, aerial imagery and analytics, announced the settlement of a patent suit that dates back to 2015.
As part of the settlement, the companies have established a new long-term commercial agreement enabling joint innovation that will benefit customers and speed the claims adjudication process. This is a positive outcome for the industry, giving professionals greater choice and unfettered access to a robust supply base.
“We’re looking forward to working together to create innovative solutions, drive efficiency and assist our joint customers,” said Chris Jurasek, CEO of EagleView.
Mark Anquillare, COO and group president of Verisk, said, “This agreement reinforces Verisk’s commitment to the industry, and it allows Verisk and EagleView to accelerate the development of richer, more-efficient digital experiences for insurers, service providers and policyholders.”
This agreement reinforces the value of Verisk’s open ecosystem. The strategic alliance allows customers seamless and integrated access to EagleView technology within Verisk’s Xactware platform, which features industry-leading, third-party integrations.
In addition, the agreement resolves all legal disputes between the two parties, and affirms that the patents held by EagleView, which were included in the suit, are valid, subsisting and enforceable. In addition, EagleView agreed that Verisk complied with the U.S. District court’s injunction.
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Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.
EagleView transforms the way people work through property insights, imagery and software. EagleView has the leading property data and imagery library and a comprehensive intellectual property portfolio with over 300 patents that enable highly differentiated workflow solutions for our customers. For more information, call (866) 659-8439, visit www.EagleView.com and follow @EagleViewTech.