NetMap to release updated versions of its fraud-fighting product suite

By Buzz Hirt September 25, 2013

Organized fraud remains one of the property/casualty insurance industry’s greatest challenges, and insurers face a constant struggle to analyze large quantities of data quickly and improve the efficiency of their SIU investigations. The NetMap® product suite provides visual link analysis combined with more than 860 million claim records in ISO ClaimSearch® to help SIUs identify organized fraud faster — and before it causes profound dam­age to your company’s combined ratio. ISO is currently in the process of updating its NetMap for Claims and NetMap for ClaimSearch products.

The NetMap product suite helps you:

  • analyze internal and external suspicious claims patterns and trends proactively
  • compress weeks of complex analysis of multiple claims into minutes
  • reduce the burden on investigative resources
  • identify suspicious claims quickly so you can handle them appropriately and efficiently
  • organize case data from multiple sources into one location for more effective analysis

NetMap products access claims data from multiple sources and use sophisti­cated link analysis technology to auto­matically break down the data into “nodes” — data elements you might find in any claim report. The system shows the key relationships or links between nodes, allowing identification of fraud patterns.

NetMap provides:

  • superior link analysis that allows you to rapidly analyze small or extremely large sets of data in a graphic format
  • two visualization formats — one that is complex for analyzing large quantities of data and a second that graphically represents findings in an easy-to-read format
  • built-in red flags and automated work­flows designed to identify common fraud patterns quickly
  • results that you can document using the comprehensive NetMap Presenter and custom reports that you can gen­erate using the data extract utility
  • customized implementation services to meet the specific needs of your organization
  • ensured data quality with automated data gathering, cleansing, and analysis

With NetMap, you’ll be able to pay mer­itorious claims quickly and deny fraud­ulent ones — compressing weeks of analysis into just minutes. The system can help you increase SIU productivity, detect fraud faster, and improve your company’s combined ratio.

Product differentiation by data sources

Both NetMap for Claims and NetMap for ClaimSearch identify suspicious pat­terns of claims in ISO ClaimSearch, the Decision Net® public records portal, and imported data. NetMap for Claims offers the additional capability to incor­porate detailed claims data from your company’s claim system using an inter­nally maintained repository.

New versions available by year-end

The updated NetMap versions will include new data elements available in ISO ClaimSearch that are relevant to SIU fraud investigations. They’ll incor­porate new efficiency features for data collection and analysis and offer major time-saving enhancements, including:

  • expanded merge suggestion capabili­ties to identify merge opportunities for claim and driver’s license nodes
  • predefined reports to assist with documenting investigation findings
  • multiple new and enhanced workflows that streamline all phases of the analy­sis process

New versions of both NetMap for Claims and NetMap for ClaimSearch are slated for release by the end of the year. For more information, send e-mail to info.claimsearch@iso.com.