Verisk Analytics, Inc. (NASDAQ:VRSK) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 08:30 am ET


Verisk Analytics, Inc. (NASDAQ:VRSK) Q2 2020 Earnings Conference Call - Final Transcript


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Good day, everyone, and welcome to the Verisk Second Quarter 2020 Earnings Results Conference Call. This call is being recorded. [Operator Instructions]

For opening remarks and introductions, I would like to turn the call over to Verisk's Head of Investor Relations, Stacey Brodbar. Ms. Brodbar, please go ahead.

Stacey Brodbar

Thank you, JP, and good morning, everyone. We appreciate you joining us today for a discussion of our second quarter 2020 financial results. Today's call will be led by Scott Stephenson, Verisk's Chairman, President and Chief Executive Officer, who will provide an overview of our business. Lee Shavel, Chief Financial Officer, will follow with the financial review. Mark Anquillare, Chief Operating Officer; Nick Daffan, Chief Information Officer; Neal Anderson, President, Wood Mackenzie; and Lisa Bonalle Hannan, President, Verisk Financial, will join the team for the Q&A session.

The earnings release referenced on this call as well as the associated 10-Q can be found in the Investors section of our website, The earnings release has also been attached to an 8-K that we have furnished to the SEC. A replay of this call will be available for 30 days on our website and by dial-in.

Finally, as set forth in more detail in today's earnings release, I will remind everyone that today's call may include forward-looking statements about Verisk's future performance, including, but not limited to, the potential impacts of the COVID-19 pandemic. Actual performance could differ materially from what is suggested by our comments today. Information about the factors that could affect future performance is contained in our recent SEC filings.

Now I'll turn the call over to Scott.

Scott Stephenson

Thanks, Stacy. Good day, everyone, and I'm glad to be with you today. The second quarter was unique as we dealt with the macro effects of the COVID-19 event, and I hope you and your families continue to stay well in this moment.

At Verisk, our priorities are unchanged as we remain committed to delivering for our customers, protecting the health and well-being of our 9,000-plus teammates and continuing to drive our innovation agenda. I'm pleased but not surprised that our second quarter results reflect the strength and stability of our business model, the mission-critical nature of our solutions and the hard work and resilience of our teammates who quickly adapted to the work-from-home environment and have remained focused on customer needs and innovation. I'm proud of our team and want to thank each teammate for their dedication and focus during a fluid moment.

Before we discuss the quarter, I want to make two related points about where Verisk stands. First, we believe that the net effect of the COVID-19 moment should benefit Verisk in the long run, given that our customers will persevere and make it through to the other side with even more focus on becoming the better digital versions of themselves. This should make our customers more capable and desirous of using our many solutions.

And second, the consistent performance you see from us now and into the future is