An Update on Predictive Modeling in the Insurance Industry

Powered by InsuranceJournal.tv In an interview with Claims Journal, Dan Donovan, assistant vice president of ISO Claims Solutions, Verisk Insurance Solutions, spoke about changes and opportunities in predictive modeling to combat insurance fraud. Using advanced analytics to fight fraud is reaching a stage of “maturity” in our industry, Donovan says. Years ago, predictive modeling was […]

MSVIVS Ramping Up

MSVIVS – OLV Testing In addition to requiring a book of business (BoB) file by the first Tuesday of each month, Mississippi is currently testing the online verification (OLV) portion of the new Mississippi Vehicle Insurance Verification System (MSVIVS). The 6 month pilot program for OLV services is expected to begin once the state reaches […]

South Carolina uninsured motorists can pay to drive

South Carolina will allow uninsured motorists to operate vehicles in the state if they pay an annual fee of $550, according to Bulletin 2016-11, which the state released on Dec. 20, 2016. The state said it will place collected funds in the Uninsured Motorist Fund and distribute it among insurers writing motor vehicle bodily injury […]

Pennsylvania Plate Readers

Pennsylvania discontinued its practice of issuing license plate registration stickers effective Jan. 1, 2017. To confirm that a motorists ’s vehicle registration is current and properly insured, the state now will rely on license plate-reader technology to scan license plates. The state estimates it will save $2 million in mailing costs and $1 million in […]

MVICS Discontinued

The Connecticut Department of Motor Vehicles no longer requires auto insurers to file reports through its legacy Motor Vehicle Insurance Compliance Reporting System (MVICS). The state DMV suspended the legacy system effective September 29, 2016. Going forward, insurers are only required to submit reports to the Connecticut Insurance Verification System (CTIVS). CTIVS, introduced in June […]

Mississippi names MSVIVS administrator

The Mississippi Insurance Department announced HDI Solutions, LLC (HDI) as the administrator of its new Vehicle Insurance Verification System (MSVIVS). The contract was awarded on May 25, according to an announcement posted in a July 20 departmental bulletin. Preparations are now underway for the 2017 launch of MSVIVS, which will facilitate automobile liability insurance reporting […]