ISO Releases Enhanced Fraud-Fighting System — NetMap for ClaimsTM 5.0

JERSEY CITY, N.J., March 22, 2011 — ISO announced the release of its new and improved NetMap for ClaimsTM and NetMap for ClaimSearchTM software, version 5.0, at the recent NetMap® User Group Meeting in Tampa, Florida.

The NetMap suite of products uses visual link-analysis technology to help claims and investigations personnel efficiently identify and fight fraud in insurance claims. These products can analyze an insurer’s internal claims data, data from the ISO ClaimSearch® database (the property/casualty industry’s only all-claims database), and other outside information, such as data retrieved through Decision Net®, the public-records portal for ISO ClaimSearch.

The software employs automated analytical techniques to analyze large quantities of claims data to uncover hidden patterns of fraudulent claims activity involving claimants, insureds, internal staff, or service providers, such as doctors, attorneys, and body shops.
NetMap 5.0 includes many enhancements that add benefit for users in every step of the fraud investigation process, such as:

  • more powerful analytic workflows, such as a “circular pathing” feature that looks at multiple indirect connections between involved parties to find nonrandom relationship occurrences that may indicate fraud
  • improved graphics and presentation capabilities, including drag-and-drop node additions and expanded icon and color palettes
  • smoother integration of third-party data with company-provided and ISO ClaimSearch information through improved data import functionality and a seamless Decision Net public-records gateway
  • new automated solutions that allow users to manage troublesome data — such as ambiguous, duplicate, partial, and incorrect information — to use the data in advanced analytics more effectively

Other enhancements include additional red flags for suspicious claim elements, built-in role-specific scenarios, enhanced user controls with user-selected thresholds and layouts, and enhanced pattern recognition features.

“We are very excited about our latest version of NetMap for Claims and NetMap for ClaimSearch,” commented Richard Della Rocca, ISO Claims Solutions vice president. “The feedback from our customers at the user group meeting was extremely positive. The enhancements and new features significantly improve customers’ user experience, enhance their ability to conduct complex claims data analysis more efficiently, and streamline the fraud detection and investigation workflow.”

For more information about NetMap products, contact ISO Claims Solutions at 1-800-888-4476 or by e-mail to info.claimsearch@iso.com.

About ISO
Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, the company provides statistical, actuarial, underwriting, and claims information; policy language; information about specific locations; fraud-identification tools; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics. For more information, visit www.verisk.com/iso and www.verisk.com.

Release: Immediate

Contact:
Giuseppe Barone
MWW Group (for ISO)
(201) 507-9500
gbarone@mww.com

Erica Helton
MWW Group (for ISO)
(201) 507-9500
ehelton@mww.com