Medical provider fraud, waste, and abuse— which have largely eluded most insurers—is an insidious, often unseen, problem that can damage insurers’ margins.
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.
Adjusters can quickly find claimant details from policy information and verify the parties involved in an accident are who they say they are in Decision Net.
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 the four components of an effective…
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.
Unfortunately, crisis is fertile ground for fraud, whether it be the opportunistic kind or organized criminal activity.
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, ISO Claims Partners wanted to provide you with some resources which you…
As we enter 2020, the insurance industry looks much different than it did ten years ago. Technological advancements, InsurTech innovations, and customer experience…
As claims fraud persists—costing property/casualty insurers approximately $30 billion a year—adjusters play an increasingly important role in identifying questionable…