Predictive Analytics

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...

ISO MedSentry detects suspicious medical billing

Property/casualty insurers have a new tool to accelerate the detection of suspicious medical billing activity — and take informed action. ISO MedSentry ™ uses a combination of advanced analytics, superior technology,...

How to Change Fraudster Priorities

The Aite Group's latest published estimates for industrywide property/casualty insurance fraud — $64 billion for 2012, $80 billion for 2013 — once again prompt the industry to examine how it identifies, investigates,...

Protect Yourself from the Rise in Organized Claims Fraud

Organized fraud is extremely difficult to detect, particularly because schemes have become increasingly complex. According to the Insurance Information Institute (I.I.I.), the National Insurance Crime Bureau (NICB)...

Effective Analytic Strategies and Successful Data Management

In a previous post , I wrote about how an effective analytics strategy must first start with good quality data — and lots of it. While good data provides the foundation on which to build, managing that data provides t...