Big Data

Impressive visit to LinkedIn headquarters

Silicon Valley in the San Francisco Bay Area of California is home to many of the top technology companies in the world. The area hosts offices for Apple, Google, Facebook, Netflix, Microsoft, eBay, and many others,...

Three Important Tips for Special Investigators

Organized insurance fraud is becoming increasingly complex in both emerging and maturing markets. In the United States, the current impact of fraud upon the property/casualty insurance fraud is estimated to be as high...

Big Data for Fraud Detection on the Rise

You’ve heard a lot about big data, and to some extent, you’re likely using it already. After all, ISO ClaimSearch ®   serves 90 percent of the U.S. property/casualty industry (as measured by direct written premium), a...

Fighting 21st Century Fraud

Unscrupulous individuals and groups are using the same technological advancements to commit insurance fraud that businesses use daily for legitimate purposes. Meanwhile, organized fraud rings have been developing...

Tapping the Well of Big Data

From the NSA to the NBA , big data is everywhere. It’s often billed as “the new oil.” And while it certainly has the potential to be as profitable, unlike oil, data is a constantly generated and renewable raw material...

Why Fraud Detection Has Become a Strategic Priority

Conventional wisdom holds that adjusters refer roughly 2 percent of claims to special investigations units (SIUs). That may not sound like much and, truth be told, it isn’t. However, that 2 percent has become a new...

Property Claims: Do You Suspect Neglect?

When a home enters foreclosure, the risk of neglect increases. Some homeowners no longer see the point of maintaining properties they’re about to lose. Others simply may not be able to afford to make the necessary...

Foreclosure: The $10 Billion Problem Claims Departments Face

Foreclosure remains a problem in the United States, and claim departments need to stay vigilant. According to data from CoreLogic, 1.3 million homes were in foreclosure in August 2012 — that’s approximately 3.2 percen...

Claims Modernization: Are You Prepared for Emerging Risks?

New risks and claims scenarios are routine in the insurance industry today. For the claims department, that means being able to understand new factors that contribute to a loss. New risks also involve new ways scammer...

Insurance Claims Analysis: Your Own Data Isn’t Enough

Most proactive claims management tools — from business processing rule engines to SIU claim identification systems — focus only on insurers’ own data. After all, what else do carriers have access to? While this approa...