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Verisk Artificial Intelligence and Automation

Vai Directory

ClaimDirector

Vai knows the (risk) score
The devil may be in the details, but sometimes those details are buried in terabytes of claims data.

To combat and correct fraud, ClaimDirector—via Verisk’s automation and artificial intelligence (Vai)—pores over ISO’s decades worth of data assets. Vai then conducts an automated, rules-based analysis that determines the likelihood of claims fraud, giving you a scored analysis that indicates the likelihood a claim is problematic or meritorious.

The result: You have what you need to decide whether to process a claim or triage it for investigation.

 

ContentsTrack

Using Object Recognition, ContentsTrack auto-builds your inventory with the camera on your phone
Vai enhances ContentsTrack using AI-enhanced object recognition. It allows ContentsTrack to visually identify, understand, and recommend inventory items just by looking at them through your mobile device’s camera. It’s intuitive, and it dramatically speeds up inventorying.

  1. Open ContentsTrack and enable object recognition
  2. Scan your mobile device’s camera over the damaged items
  3. Confirm object identities and add them to your inventory

Once you’ve rapidly and precisely built your inventory, you’ll have the firm foundation you need to guarantee a reliable digital chain of custody that lets you track down item locations and cleaning statuses. Then, use ContentsTrack’s reporting tool to create and review productivity reports that detail critical workflow information (i.e., whether items from specific date ranges are staying in containers for too long).

 

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Digital Forensics

Vai automates vehicle damage inspections and fraud detection
Onsite inspections of auto physical damage claims cost insurers time and money—and hinder customer satisfaction. More companies are turning to policyholder-submitted images to assess damages. Vai uses sophisticated AI algorithms and image forensics to examine auto damage quickly and analyze images for potential fraud.

The solution enables policyholders to take damage photos with a mobile app, minimizing the need for in-person inspections. Vai technology then processes the images to determine the severity of damage and the legitimacy of the photos. It easily integrates with ISO ClaimSearch and Xactware, providing alerts for questionable images and photos used in prior claims.

ISO ClaimSearch

Vai helps speed decision-making
ISO ClaimSearch is more than the industry’s largest claims database—it’s now a robust claims intelligence platform. The reimagined visualized interface uses Vai technology to provide real-time claim analysis and automated alerts that highlight relevant information to adjusters make a faster, better informed decision.

For example, when you enter a claim into the visualized ISO ClaimSearch platform, the system automatically scans the claim for red flags, such as VIN failed edit, prior salvage, prior SIU involvement, invalid SSN, hail, foreclosure, and more. It quickly helps users determine if a claim can be fast-tracked or needs a closer look.

ISO MedSentry

Vai knows the (medical fraud risk) score
Drawing on decades of medical billing fraud data, Vai meticulously analyses trends and anomalies to find each provider’s risk factors. Using Vai’s deep insights, ISO MedSentry condenses the findings into a score that gives instant understanding on underwriting risks and fraud prevention efforts.

Vai points where to look
ISO MedSentry also uses Vai’s predictive analytics to alert you to suspicious issues in your billing data and direct you where to further investigate the suspect behavior.

Liability Navigator

Automated settlement suggestions supported by Vai’s powerful analytics engine.
By analyzing historic settlement outcomes and ingesting current investigative guidelines, Vai helps Liability Navigator deliver deep analytics and suggested settlement amounts for auto claims—even in the face of preexisting conditions, multiple injuries, and complications.

Liability Navigator drives auto claims innovations

  • Predictive medical and settlement models
  • Deep integration with standard tools and workflows
  • Claims resolution insights, including trends recognition and analysis
  • Comprehensive, searchable assessment history

Machine learning drives consistent settlements and improved subrogation recovery

  • Vai’s predictive analytics can guide comparative liability from 8% to more than 20%
  • After implementing Liability Navigator, settlement results are often enhanced by as much as 23%
  • Liability Manager has helped companies handling auto claims improve cycle times by as much as 35 days

Mozart

Vai Technology: Single Repository
The Mozart Form Composer integrates with insurer’s in-house or vendor applications, facilitating connections from Mozart to internal insurer systems and third-party vendor systems throughout the insurance policy life cycle. This capability allows Mozart clients to have a single repository of their policy language, minimizing the challenges many insurers face today around version control and out-of-date policy language by having copies of their forms and endorsements in multiple systems. Verisk Vai technology provides a number of key features, including the ability to download ISO forms individually or in bulk and perform custom searches for forms based on line of business, U.S. state or territory, and document text.

NetMap

Intelligent fraud detection driven by Vai’s powerful algorithmic analysis
Vai connects NetMap to claims data from ISO ClaimSearch’s 1.5B + loss history database. Vai then helps NetMap render that data meaningful by powering the embedded fraud and node link analytics that NetMap uses to scan, identify, and flag patterns and connections among the terabytes of data that pass through ClaimSearch.

Weeks by hand. Moments with Vai.
Vai automation protects your company from organized fraud. The automated analytics that Vai supplies to NetMap—as well as the data visualization technology embedded in the tool—ensure that SIU analysts can discover intricate patterns of fraudulent activity in just minutes.

 

wcNavigator

Vai sees complexities before they develop
Using powerful, expertly designed algorithms backed by comprehensive company and industry data, Vai uses advanced machine learning to predict a claim’s complexities and potential volatilities long before they manifest themselves further down the cycle.

wcNavigator harnesses Vai’s deep insights to deliver severity scoring, score drivers, pharmacy alerts—cluing in on complex cases early in the process so managers can focus on them.

 

Weather

Vai keeps an eye on the weather
Using algorithms refined by Verisk data and weather scientists, Vai monitors proprietary weather information from all over North America. These algorithms give you the tools to visualize, forecast, and respond to impending weather events that affect your policies-in-force, which ensures you can allocate the right resources and personnel to affected areas.

When Hurricane Dorian struck, Respond’s event visualization ensured insurers had the info they needed to send the right resources to affected areas.

 

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Vai automates date-of-loss verification
By comparing reported dates of loss against Verisk’s weather database, Vai protects claim fidelity and helps to avoid incorrect weather attribution to claim estimates through rules-based, automated alerts in XactAnalysis. If a policyholder was to report hail damage on a day when no hail damage occurred, your rules-based alert would automatically flag the claim for additional review.

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XactAnalysis

Vai knows what you want to know
Through XactAnalysis Insights, Vai makes it simple to get deep insights from your claims data.

For example, you may run a search for all hail claims in the fourth quarter of last year. Along with the results, Vai will suggest other reports that offer additional insight about your hail claims to help you in your decision making.

On top of that, Vai will continually optimize your dashboard, making it easier to access your most frequently viewed reports and other analyses. So each time you log in you’re seeing the dashboard that fits you best.

Finally, Vai understands you. Simply speak or type your request using normal, everyday language. For example, when you say, “Pull up last year’s hail claims,” that’s exactly what Vai will do.

 

XactContents

Vai makes helpful contents suggestions
When you’re compiling contents losses, Vai delves deep into our database of millions of vendor-specific contents items. Using your input, Vai finds and suggests exactly what you’re looking for.

For example, you search for and select an item like a TV. You then specify its attributes (manufacturer, size, resolution, etc.). Based on your selections, Vai narrows down the item to your closest fit, saving you time and effort searching for your exact item, and helping you effortlessly add it to the claim.

 

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Xactimate

Vai helps you search items
Item Refine is a visually based item search engine that lets a user narrow criteria by searching by item attributes. Vai technology makes this possible with comprehensive industry data and advanced algorithms informed by local and emerging trends. This is especially helpful when the specific item is unknown at the outset.

For example, a user can pull up a generic line item (e.g., an interior door) and select the item attributes, such as type, material, function, style, and quality. Based on those attributes, Vai feeds Xactimate suggestions based on 30 years of property data gathered from all fifty states and Canada, then adds specific line items that are bundled with your initial selection (e.g., pre-hung interior door, hinges, jamb, stop, etc.). This helps reduces the amount of time needed to search the database for line items.

Item attributes are also available for contents items.

 

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Vai suggests items before you search
This provides line item recommendations before the user searches. Vai creates these recommendations using predictive behavior based on pieces of data we collect automatically from the estimate, such as location, loss type, and room type. It then applies an algorithm using industry data to deliver a strong set of recommendations for specific line items.

For example, if the loss is categorized as water damage to the upstairs bathroom, Vai begins to suggest line items based on category, such as, flooring, drywall, electrical etc.

Xactimate and ClaimXperience

Vai helps automate low-severity, high-frequency claims
It does this by creating an automated connection between your custom forms and line items in Xactimate.

After providing a few simple rules with your ClaimXperience custom forms, your completed forms can automatically trigger line items to appear in your estimate in Xactimate.

For example, you send your policyholder a custom form to complete at their home, which has sustained water damage to its basement carpet. The policyholder completes the form, answering questions about the type and size of carpet.

They hit “submit” and Vai takes over, creating a preliminary estimate in Xactimate, complete with measurements and line items.

 

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Vai makes tracking miles easy
ClaimXperience not only lets your customers upload receipts and conveniently report their ALE expenses, but it also enlists Vai to painlessly calculate mileage.

For example, a policyholder might make a daily trip from a hotel to work. At the ClaimXperience portal, she enters her starting and ending addresses. Vai takes the data and syncs with Google Maps to calculate her mileage to and from work. The policyholder saves this commute as a custom trip and uses it to report the number of trips she has taken in a week. Total miles are saved and added to the ALE portion of her claim.

 

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