Verisk Artificial Intelligence and Automation
Vai doesn’t take a smoker’s word for it.
Vai provides cutting-edge audio analytics with traditional and non-traditional data sources to indicate—with a high degree of accuracy—the likelihood that an applicant is a smoker.
Innovative automation streamlines case management
Using AI-driven automations, Case Manager helps SIU manage all investigative, intelligence, and regulatory functions more efficiently. Vai technology automates case intake and triage, as well as compliance and administrative functions so SIU can focus on their primary function—investigating questionable claims.
Vai fuels fast and accurate fraud detection
Insurers face a difficult balancing act: paying meritorious claims quickly while also checking for fraud. And that requires swift analysis of extensive loss history data to find questionable attributes. ClaimDirector—powered by Vai—does just that. It leverages machine learning and predictive models to score claims accurately and deliver reason codes.
The result: You have what you need to decide whether to process a claim or triage it for investigation.
Vai knows all the drivers.
Commercial Auto services rely on Vai’s proprietary analytics to deliver quick, accurate answers from motor vehicle reports across the entire country. Vai also helps monitor changes in driving records to prevent issues before they become real problems.
Vai dives deep into massive data.
Vai provides advanced analytics to ProMetrix to support its comprehensive data for more than 11.5 million commercial properties, including critical underwriting information on occupancy, construction class, building age, number of stories, and area, along with 7.5 million related aerial images.
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.
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).
Vai breaks down the complex into the simple.
Vai uses sophisticated smart models to analyze claims by loss type and line of business. It also makes customized report suggestions within ISO ClaimSearch® and Decision Net®.
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.
Vai detects fraud in digital loss images
More companies are turning to policyholder-submitted images to assess vehicle damages. But remote inspections make insurers more vulnerable to fraud. Vai technology helps mitigate risk by analyzing images for potential fraud right within your workflow in ISO ClaimSearch and Xactware.
The solution uses AI algorithms and image forensics to quickly analyze image metadata and indicate if a photo has been modified or if the image data corresponds to claim information. It also checks to see if loss images were copied from the Internet.
Vai helps you skip the blood work and medical exam.
Vai helps the EHR Triage Engine speed along life insurance applications. It analyzes an applicant’s electronic health record, compares it against a comprehensive database, and scores their risk – instantly and automatically.
Vai automates glass damage inspections
Nearly 14 million auto glass claims are filed each year, more than any other vehicle claim. With that many claims, onsite loss inspections can be costly and time consuming, and phone inspections are often inaccurate. But Vai streamlines the process by automating glass inspections.
Using a mobile app, policyholders can take photos of glass damage, reducing the need (and costs) of in-person inspections. Then, AI algorithms process the images and determine the severity and legitimacy of the damage, while image forensics ensure photos are authentic and not duplicates.
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 so adjusters can make faster, better informed decisions.
For example, when you enter a claim into ISO ClaimSearch, 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.
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.
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.
Vai knows what fraud looks like.
Vai supports Intelligent Vehicle Inspection (IVI) by providing advanced imaging technologies and artificial neural networks to accurately identify the damage level on a vehicle at the time of an accident with minimal extra information.
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 injury claims—even in the face of preexisting conditions, multiple injuries, and complications.
Vai drives claims innovations
Liability Navigator provides an array of features to help improve consistency and accuracy in injury evaluations, including predictive medical and settlement models, deep integration with standard tools and workflows, claims resolution insights, and comprehensive, searchable assessment history. And those features deliver results:
Vai helps you stay at the forefront.
Fueled by unmatched data resources and groundbreaking predictive analytics, Vai helps LightSpeed Auto deliver competitive advantages to improve your policy acquisition costs and speed to bind – resulting in a seamless customer experience and an overall more efficient operation.
Vai keeps everything in sync.
Vai provides the analytics that power Mozart’s ability to compare and review your company’s documents and individual clauses to help shorten product and rationalization processes.
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.
Vai helps insurers make in-person tasks virtual.
OneXperience from Verisk is designed to streamline engagement with policyholders throughout the insurance cycle from quote to renewal. Utilizing Vai automation, OneXperience helps improve operational efficiencies and reduce the cost and time associated with traditional insurance inspections.
Accommodate your customers’ busy schedules and raise their comfort level with a self-inspection and video collaboration option that enables policyholders, or their agents, to:
Vai sees what’s coming down the road.
Vai lends its predictive modeling prowess to assist insurers in underwriting, rating, and enhancing preexisting analytics, to help better assess insured vehicle risks.
Vai gives you your own insurance ecosystem.
Thanks to Vai’s sophisticated APIs, the Sequel suite of products allows insurance and reinsurance organizations to connect and centralize their apps and data into their own internal, wholly-integrated ecosystems.
The next generation of property prefill data.
When you enter an address in 360Value, SmartSource, powered by Vai, automatically prefills insurance-ready, property-specific information from a wide range of sources, choosing the most reliable information for more than 124 million U.S. residential properties. Vai helps SmartSource populate up to 68 address-specific property characteristics from multiple sources, including public records data, real estate data, underwriting and claims estimates, and topographical data. Vai’s advanced algorithm chooses the most accurate, up-to-date information from those sources to populate each field. You’ll find prefill data for many types of single- and multifamily residential properties, including condos, high-value homes, mobile homes, manufactured homes, and more.
Vai sees complexities before they develop
Using powerful, expertly designed algorithms backed by comprehensive insurer and industry data, Vai uses advanced machine learning to predict a claim’s complexities and potential severity long before they manifest themselves further down the cycle.
wcNavigator harnesses Vai’s deep insights to deliver severity scoring, score drivers, and pharmacy alerts—cluing in on complex cases early in the process so managers can properly triage claims to the right handling unit.
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.
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.
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.
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.
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.
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.
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.
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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