ROI

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...

ISO ClaimSearch improves searches and enhances customer service

The ISO ClaimSearch ® database now contains more than 870 million claims. Participants submit more than 235,000 claim reports a day, providing a constantly updated source of claims information. We continually work to...

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...

Claim Handling, New Markets, and Profitable Growth

New markets, new products, and new underwriting practices bring new revenue. And then what? Following the near-term benefits, claims start to come in. Many, of course, are meritorious, but some are not.  Whether you’r...

Claims Fraud Detection: What Are Your Priorities?

Claims fraud may occur in only 2 percent of claims, according to some estimates, but early detection — and prevention — are growing in importance. Why? According to a new study by Celent, as reported in Insurance...

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...

Big Data, Catastrophe Losses, and Insurance Industry Disruption

Is disruption coming to the property/casualty insurance industry? According to a new report from Novarica, five factors may bring change to the sector, with “Big Data and analytics” and “catastrophe losses” among them...

How Much Does Claims Handling Matter?

When a catastrophe strikes, the claims department has one primary mission: serving its customers. But that mission also fulfills another purpose. By delivering a superior claims experience, with knowledgeable claims...

For the Claims Adjuster Who’s Seen It All

In the claims business, most people see experience as the greatest asset. A seasoned adjuster with decades in the field has seen it all and therefore can reach fairer settlements faster — as well as mentor junior...