Auto Fraud
Personal auto research: Application integrity down, fraud up
Application integrity for personal auto insurance has deteriorated more than 20 percent over the past eight years, according to Verisk research.
Picture this: Get critical claim insights from vehicle location photos
As claims fraud persists—costing property/casualty insurers approximately $30 billion a year—adjusters play an increasingly important role in identifying questionable…
How to find fraud in insurance claims
For insurers looking to stem the $30 billion-a-year insurance claims fraud problem, early detection is key. But with caseloads rising and hundreds of thousands of…
Setting a new standard in nonstandard auto
Learn how Verisk is tackling the challenge of the nonstandard auto insurance market.
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.
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…
5 questions to ask before building a claims fraud analytics system
With the industry focus and media attention on data analytics in insurance, many SIU leaders are considering enhancing their team’s investigative capabilities with a…
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…
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.
Flood titles: In the wake of hurricanes
As Gulf Coast communities from Texas to the Florida Keys begin a years-long recovery from the onslaughts of hurricanes Harvey and Irma, another surge is on the way. This…
Mileage drives $5 billion in annual premium leakage
Underreported mileage is a major factor in claim volume, driving more than $5 billion each year in premium leakage.
Avoid vehicle errors to curb premium leakage
A Verisk analysis reveals that misinformation about insured vehicles accounts for billions of dollars in premium leakage for personal auto insurers.
Garaging errors: A significant cause of premium leakage
A Verisk analysis found more than 10 percent of auto policies had verifiable garaging address defects—and that adds up to $3 billion in annual premium leakage.
The mystery of deteriorating loss ratios
A new Verisk Innovation Paper, Application Integrity: The Whole Truth, explores the mystery of three large personal automobile insurance carriers that were struggling…
Mispriced driver risk: A leading source of premium leakage
Misrepresented driver risks are the top overall source of premium leakage for insurers, accounting for $16.5 billion a year.