More Robust Link Analysis and "Red Flags" Identify Questionable Claims; Internal Fraud-Detection Focuses on Check Issuance and Payments
JERSEY CITY, N.J., June 12, 2003 — Insurance Services Office, Inc. (ISO) has introduced a more robust version of its NetMap for ClaimsTM data-analysis and visualization software for identifying and combating fraud.
NetMap for Claims Version 4.0 sifts through vast amounts of data to "sniff out" hidden connections among claims that share common characteristics, such as names, Social Security numbers and vehicle identification numbers.
NetMap for Claims can access data from insurers' internal databases as well as the ISO ClaimSearch® antifraud database system. The visualization technology underlying NetMap for Claims quickly produces a graphic picture of data relationships — the footprint of fraud.
The new version includes new data-comparison fields and "red flag" features. The internal fraud-detection feature focuses on check issuance and payments, in addition to claims activity.
NetMap for Claims is client-server software with two server-deployment options Ã² local server and ISO-hosted remote server or application service provider (ASP). The system includes automated analytical techniques revealing intricate patterns of fraud perpetrated by claimants, medical providers, and others, such as auto body shops or attorneys.
ISO also will release an updated version of its ViewLink ManagerTM desktop fraud-detection application software in the third quarter of this year. Like NetMap for Claims, ViewLink Manager interfaces with ISO ClaimSearch and uses link-analysis and data-visualization technology.
ISO ClaimSearch is the world's largest repository of insurance claims, with almost 350 million claim records and third-party information. Insurers representing 94 percent of the U.S. property/casualty industry by premium volume use the system.
ISO ClaimSearch is a cooperative effort of more than 2,000 insurers, 1,000 self-insured entities, 450 third-party administrators, state workers compensation insurance funds and other organizations. Information is available through host-to-host transmissions and the ISO ClaimSearch secure Internet information-delivery platform.
ISO is a leading source of information, products and services related to property and liability risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides data, analytical and decision-support products; consulting; data processing; and technical, statistical and actuarial services. ISO field services include on-site rating and underwriting services and the evaluation of community loss-mitigation efforts. ISO's products help customers with sales and prospecting, underwriting, rating and quoting, customer management, policy administration, product development, claims administration and fraud detection. ISO's AIR Worldwide subsidiary provides technologies to assess and manage natural and man-made extreme-event risk. Through its ISO Claims Services, Inc. (iiX unit) and Intellicorp subsidiaries, ISO provides motor vehicle reports and criminal-records information and through its AscendantOne unit delivers rating, quoting and policy-administration solutions. In the United States and around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies.