Game-changing new ISO ClaimSearch® innovations will transform claims analytics

By Dan Donovan  |  September 6, 2016

With a growing industrywide emphasis on financial performance, the speed and accuracy of claims decisions are more critical than ever to operational efficiency, customer retention, and your bottom line. But while data to support swift and smart decision making is abundant, most adjustors struggle with the challenge of assessing and deploying that data with precision.

Strategic analytics is changing the paradigm, and ISO ClaimSearch® is at the forefront.

Seamless integration delivers better strategic analytics

Through transformative technology, ISO ClaimSearch is rolling out analytic enhancements that provide adjusters not only with information but also with more actionable insights to settle meritorious claims faster and reduce fraud leakage.

Rather than insurers accessing claims administration systems, industry information, and fraud detection solutions through separate entry points, ISO ClaimSearch is transitioning to a more integrated offering that addresses each of those challenges. We bring all the necessary capabilities together to save claims-processing time and improve fraud detection.

Greater efficiency through a streamlined user experience

We’re evolving from a broad spectrum of individual products to a targeted set of unified solutions. Everything our users need—from claims scoring to public records information to fraud alerts—will be available to you from a single source.

The newly powered ISO ClaimSearch platform will provide even more of the strategic and predictive analytics that adjusters require, while removing the clutter of extraneous information. Accessing a new, visually enhanced dashboard, adjusters can drill down to focused, actionable information necessary to speed claim payments—and, in the future, to make automatic payments of meritorious claims.

The automation of actionable insights will deliver the best of all worlds to the claims department. As soon as an adjuster enters a claim, real-time data immediately shows prior loss history, previous SIU involvement, and additional alerts. For ClaimDirectorSM subscribers, that enhancement will provide an actionable score for immediate guidance in paying a claim or referring to the SIU. And investigators will benefit from streamlined access to detailed alert reports, link analysis visualizations, organized fraud detection, claims photo evidence, and more.

A breakthrough for smarter, faster claims decisions

Solution integration is the watchword that will make all the tools at your disposal even more relevant and indispensable. Adjusters will move claims through the pipeline faster, improve customer retention by expediting the settlement process, and efficiently direct red-flagged claims to the SIU at first notice of loss—all of which will strengthen the customer experience as well as insurers’ overall cost efficiency.

Dan Donovan

As assistant vice president of ISO ClaimSearch® Solutions, Dan leads product development, go-to-market strategy, sales support, and product innovation for the Verisk – insurance solutions antifraud platform. Before joining Verisk, he was the manager and global industry lead of Fraud and Security Intelligence Solutions for Insurance at SAS Institute, where he was responsible for providing presale and business consulting support for software sales activities focused on fraud detection, claims analytics, and investigation management solutions for the property, casualty, life, and disability markets worldwide. Before joining SAS, he spent 20 years in the insurance industry, including roles as regional manager of Auto Physical Damage, assistant director of SIU, and director of Liability at a major multiline insurer. Dan holds a degree in criminal justice and is a certified Fraud Claim Law Specialist (FCLS). Connect with him on Twitter @dandnvn.