Annually, insurance fraud steals roughly $308.6B from American consumers. Self-insureds could be vulnerable to insurance fraud and undetected leakage.
The insurance industry has experienced tremendous change in the past few years.
How can you ensure your suspected fraud referral will grab the attention of law enforcement?
The concept of new and emerging provider fraud trends doesn’t only apply to recent medical providers showing up on your radar.
Low-exposure medical provider fraud may be costing you millions
Application integrity for personal auto insurance has deteriorated more than 20 percent over the past eight years, according to Verisk research.
The use of external data can help insurers identify potential fraud, but also shorten the customer journey by validating information more efficiently.
The future of claims is about elevating the customer experience, and insurers that aggressively pursue digital enablement today will be primed to excel tomorrow.
Digital technology has become critical to provide core claims services during lockdown. Verisk is at the forefront in this field with a full range of claims solutions.
Today, we can examine insurance trends that are likely to continue post-COVID-19. Here are some key takeaways for insurers as a new chapter unfolds across the industry.
Insurers are turning to AI to detect claims fraud automatically – but to get the most from their analytics, they need to understand an anti-fraud system.
Taking a closer look at medical billing helps identify pandemic-related issues that can put patients at risk and negatively impact insurers’ bottom lines.
Neural networks, machine learning, multivariate random forest models, and various derivatives of the same are being used to create modern fraud detection models.
Claims adjusters are now working at home, relying on customer-submitted images and videos to inspect and appraise damages for the foreseeable future.
As the industry (and nation) continue to deal with the challenges of the current health crisis,we want to provide you with some resources which you may find helpful.
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