JERSEY CITY, N.J., March 20, 2006 — In the continuing effort to combat insurance fraud, ISO and the National Insurance Crime Bureau (NICB) are collaborating to develop new antifraud tools for insurers' special investigations units (SIU).
A new SIU Case Manager (SCM) platform integrating many functions associated with managing underwriting and claim investigations will be available to insurance carriers this year. The new SCM platform provides workflow automation required by SIU professionals.
SIU Case Manager will help investigators document, assign, report and archive claims being investigated. It will include a customer response diary, expense tracking, time-triggered mailings and streamlined NICB and state fraud bureau reporting features for enhanced SIU productivity.
In addition, SIU Case Manager will be integrated with ISO ClaimSearch ® , the industry's most comprehensive all-claims system, and ClaimDirector SM , the system's claim-scoring service. SCM will also assist insurers with enterprise-level reporting and compliance with regulatory requirements for antifraud programs.
The new SCM product is ISO's latest enhancement to the case-management platform for NICB's use. A "fraud bureau" version of the product, customized for the needs of state insurance fraud investigation agencies, will also be available.
"The process improvements delivered by the SCM platform will benefit company management, SIU staff, underwriters, claim adjusters and policyholders," said Vincent Cialdella, vice president of ISO ClaimSearch. "In addition to improved fraud-activity reporting capability and compliance, it will enable SIU personnel to be more productive and efficient in investigating potentially suspect claims."
In another initiative, ISO is developing a specialized version of its NetMap for Claims(TM) data-analysis and visualization software tool for the NICB. This will allow NICB investigators to perform customized searches using the ISO ClaimSearch database, making it easy for them to identify organized fraud rings and collusion-oriented fraud activity -- a growing menace for the industry.
Supplementing its current access methods to questionable claims referred by insurers, the NICB will also offer state fraud bureaus a new web-based version of its Referral Review system. The web-based system will provide fraud bureaus with instant access to questionable claims via ISO ClaimSearch and allow them to pass that information to their own systems electronically or via the SIU Case Manager platform.
For further information on these new products, contact ISO ClaimSearch Customer Support at 1-800-888-4476 (select option 2) or send e-mail to: firstname.lastname@example.org .
ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Clients use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. In the U.S. and around the world, ISO's services help customers protect people, property and financial assets. For more information, please visit www.verisk.com/iso.
The NICB is the nation's leading nonprofit organization dedicated exclusively to preventing, detecting and defeating insurance fraud and vehicle theft through information analysis, investigations, training and public awareness. For more information, please visit www.nicb.org .