Verisk Analytics Inc. (NASDAQ: VRSK) announced that Pradip Patiath has been elected to the company's board of directors, effective immediately. Patiath serves as a senior partner at McKinsey & Company, where he has co-led the North American digital insurance and consumer and business banking sectors over the past decade.

Patiath has worked at McKinsey & Company since 1996 and became a senior partner in June 2011. He has over three decades of experience serving institutions in insurance, banking, wealth management, private equity, payments and fintech sectors. Before joining McKinsey, Patiath served as president and chief operating officer of CCC Information Services.

The company also announced that Kathleen Hogenson has retired from its board of directors. Hogenson was elected to the board in 2016 and served on the audit, executive and risk committees, chairing the audit committee.

"We're pleased to welcome Pradip to Verisk's Board of Directors," said Bruce Hansen, chair of Verisk's board of directors. "Pradip brings deep experience helping leading insurers navigate growth, digitalization and large-scale transformation."

Lee Shavel, president and chief executive officer of Verisk, said Patiath's background aligns with the company's focus on helping insurers use data and embrace new technology.

Verisk provides data analytics and technology services to the global insurance industry. The Jersey City, New Jersey-based company operates in more than 20 countries.