Predictive Analytics

Rhode Island Automobile Insurance Plan (RIAIP) to report assigned risk

Rhode Island has confirmed that, effective immediately, the Rhode Island Automobile Insurance Plan (RIAIP) will be responsible for reporting all assigned-risk automobile insurance policies directly to the Rhode Island...

ISO Claims Outcome Advisor Named to Insurance Times TechAwards Short List

Insurance Times released its list of finalists for the annual TechAwards. ISO Claims Outcome Advisor ® was one of two Verisk Analytics units that made the cut for “Technology Partnership of the Year – Insurer,” along...

Compulsory insurance penalties increase in Louisiana

Effective June 12, 2014, Louisiana House Bill 872 significantly increased penalties for operating a motor vehicle without required insurance and failing to provide required proof of compliance. If an insured meets...

Taking a Hummer down the Yellow Brick Road

In L. Frank Baum's novel The Wizard of Oz , farm girl Dorothy befriends a scarecrow, a tin woodsman, and a cowardly lion who long for attributes such as a brain, a heart, and courage. While this merry band of misfits...

Do you write business in Rhode Island?

A new Rhode Island law — calling for implementation of an uninsured motorist database — becomes effective July 1, 2014. Note the short implementation window: The first official email went out May 9, and the state...

Wildfire Reports Point to a “Hot” Summer for the Western United States

The National Interagency Fire Center (NIFC) recently issued its North American Seasonal Fire Potential Outlook for the summer of 2014. For the entire season, NIFC projects much of California and parts of Arizona and N...

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...

5 Common Medical Fraud Schemes

Identifying relationships among disparate pieces of information is the key to pinpointing billing practices that indicate fraud, waste, and abuse. Finding those relationships, however, tends to be difficult. Connectio...

Overcoming Challenges in Predictive Modeling Part 2: Lack of Skilled Modelers

In a recent ISO and Earnix survey of 269 insurance professionals, the results clearly indicated that the majority of carriers had two primary pain points restricting their ability to create more predictive analytics: ...

Overcoming Challenges in Predictive Modeling Part 1: Lack of Sufficient Data

The results of a recent ISO and Earnix survey of 269 insurance professionals clearly indicate that two primary factors restrict the majority of insurers from creating more predictive analytics. The top challenges were...