Fraud and Rating Integrity

Auto Underwriting

 

Rating integrity analytics and services

Verisk Underwriting provides a variety of innovative tools and services to help auto insurers identify and fight fraud at the point of quote. Rating Integrity Analytics and Services detect, correct, and prevent rating errors. This suite of services helps recover lost premium, prevent future losses,¬ and provide a high return on investment.

 

Driver Information and Discovery

To estimate underwriting risks accurately and calculate suitable premiums, you need complete information on all potential drivers within each policyholder household. Maintaining an accurate assessment is challenging, but our Policy Monitoring program can help.

GarageConfirm™

GarageConfirm™ helps you identify potential garaging fraud by providing unique location data that tells you the frequency of vehicle sightings and their proximity to the address provided by the policyholder. It helps you rate and price policies more accurately, correct rating errors, and prevent premium leakage.

MileageConfirm™

MileageConfirm™ is a system to help you identify policyholder error or fraud at point of sale or point of quote. It works with your existing sales process and systems by reviewing select rating elements, such as annual mileage, commute distance, and business use, for accuracy, currency, and legitimacy.

RISK:check® Renewal

RISK:check® Renewal is a system to help you uncover flaws in rating data and correct costly errors at policy renewal. The systems uses sophisticated data analytics, conducts audit checks to identify potential rating errors, and assists with required reporting regulations.

RISK:check® Point of Sale

RISK:check® Point of Sale is a personal auto underwriting model that helps identify risks with a high likelihood of future claims fraud. It also finds rating errors that could result in lost premium. You get numerical scores indicating the degree of risk as well as reason codes and text messages that explain discrepancies.

Precision Reunderwriting™

Precision Reunderwriting™ is a service that contacts and interviews policyholders to correct rating errors. If you participate in the program, we give you customized management reports using the rating variables you specify. Reports and interview recordings are available online through our secure web portal.

RISK:guard®

RISK:guard® is a tool to help you maintain policy rating integrity in the second and subsequent years of a multiyear program. It helps you reduce second- and third-year costs considerably and streamlines policy review.