Auto Claims

11/6/2019 - 2 min read

Why data is critical to countering insurance fraud in Ireland

Insurers in Ireland need to look at how they can use data from a wide variety of sources to significantly reduce the risk of fraud at the application and claims stage.

10/29/2019 - 5 min read

As claim severity climbs, analytic insights hold key to containment

Insurers today are struggling with what seems like an intractable problem: the impact of rising claim severity on their bottom line. This upswing shows no sign of abatement: for the past two decades, severity has increased almost every year for auto and workers’ compensation medical and indemnity claims.

7/18/2019 - 4 min read

Life insurance fraud: A holistic claims view key to detection

Life insurers can face a myriad of challenges today. Some of those issues have plagued the industry for years—such as stagnant premium growth and low interest rates—while others are new—like changing customer expectations and disruptive innovations such as on-demand policies and selfie underwriting (yes, that’s a thing).

7/10/2019 - 4 min read

The growth of litigation funding and its potential effects on commercial auto insurance: Part Two

Litigation funding’s impact on insurers can be huge, starting with the potential for nuclear verdicts. Commercial auto insurers consider anticipated risks and predicted losses as part of the calculation in determining premiums.

12/10/2018 - 1 min read

Verisk named People's Choice Innovation Vendor of the Year by Insurance Nexus

Insurance Nexus, a global provider of insights and events for the insurance industry, has named Verisk as its People’s Choice Innovation Vendor of the Year.

11/27/2018 - 4 min read

Uncover key claim details with social media

The average user spends 2 hours a day on social media. Hidden within the sea of tweets, snaps, and posts on these social platforms is information for the claims process.

11/14/2018 - 2 min read

Rethinking insurance for a rapidly changing world

The growth of smartphones and online shopping has changed consumers' expectations. They want a fast, accurate, and personalized buying experience. They want coverages for their specific needs, quotes that don’t change, and claims that are paid quickly.

Ca18076 Visualized 500x333 2018 1004 Va3

10/16/2018 - 3 min read

Uncovering fraud in auto extended warranty insurance

For most drivers, purchasing an extended automotive warranty for their vehicle means peace of mind in the event their vehicle malfunctions and needs critical repairs. For others, the intent is different—fraud. These individuals try to pass off preexisting vehicle issues as a covered warranty claim.

8/27/2018 - 2 min read

Verisk’s Coverage Verifier contribution accelerator receives Ready for Guidewire designation

Verisk's Coverage Verifier contribution accelerator, which has received the Ready for Guidewire designation, can help support this objective.

7/30/2018 - 5 min read

Interview: Into the future with ADAS and vehicle autonomy

Andrew Blancher, director of commercial auto product development at ISO, recently interviewed David Zuby, executive vice president and chief research officer at the Insurance Institute for Highway Safety, on an array of issues surrounding advanced driver-assistance systems(ADAS) and vehicle autonomy. Here’s the first portion of their conversation.

7/11/2018 - 3 min read

How a professional’s reputation can expose inflated claims

Trusting information at face value is a thing of the past. Claims professionals know this well, because they must gather information on a claimant and research prior losses to validate a claim.

6/7/2018 - 3 min read

Lessons learned from 2017 hurricanes help insurers for this season

6/5/2018 - 4 min read

Digital claims processes: Key to satisfying connected consumers

The UK insurance industry is one of the largest in the world, paying €11.2 billion in claims in 2016. Making a fundamental shift in the way customers are served requires more than a quick fix.

6/1/2018 - 3 min read

Managing for change: Getting a jump on fluctuations in discount rates

There is a technological solution that can quickly adjust an insurer’s entire book of complex claims to new rates: piCalculator from Verisk.

4/25/2018 - 3 min read

Looking beyond the blind spots to get the whole claims picture

Missing details can be key to settling insurance claims. What insurers don’t know can definitely hurt them.