Anti-Fraud

2/25/2019 - 1 min read

CMS to mask health insurance claim number and social security number on contractor correspondence starting April 2019

Starting 4/1/19, CMS’s Coordination of Benefits and Recovery Program program will mask the social security number (SSN) and SSN-portion of the health insurance claim number on all ongoing letters.

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.

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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.

7/30/2018 - 3 min read

5 questions to ask before building a claims fraud analytics system

With the industry focus on data analytics in insurance, many SIU leaders are considering enhancing team’s investigative capabilities with a fraud analytics solution.

7/16/2018 - 4 min read

Can insurance mitigate GDPR-related risk?

In the wake of the implementation of the European Union’s General Data Protection Regulation (GDPR), businesses worldwide are developing policies and processes to address compliance. Organizations might also consider asking: Can insurance help my U.S. business avoid the risks associated with this new regulation?

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.

6/19/2018 - 5 min read

Blockchain security scrutinized

Blockchain technology has been getting a lot of attention recently, beyond just its role as the technology underlying “virtual currencies” like Bitcoin. Some have enthusiastically claimed that blockchains have the potential to help streamline insurer operations and improve data security—but, as with many new technologies, it’s also being met with skepticism.

5/3/2018 - 4 min read

Ethics and data: Value in mature governance

Data can have many positive applications, but there can also be many risks with increased data dependency. Responsible data stewardship is critical.

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.

4/23/2018 - 2 min read

All about timing: The importance of discovery triggers in cyber insurance

ISO’s commercial cyber insurance program includes a unique feature: a discovery trigger applicable to first- and third-party insuring agreements.

4/6/2018 - 2 min read

ISO survey: Data breach risk is top of mind for many insurers

It seems not a day goes by without a cyber breach reported somewhere around the globe. Insurers are thinking about cybersecurity too, if the past five ISO Emerging Issues Bracket results are any indication.

2/16/2018 - 3 min read

Cyber incidents top list of business risks on the new Allianz Risk Barometer

Last month, Allianz Global Corporate and Specialty published its seventh annual risk barometer, a look at the top business risks in the eyes of risk managers globally.

11/1/2017 - 3 min read

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 one is not rising water; it’s salvage vehicles that were totaled in the storms’ flooding and may be dumped back on the market by the thousands after being rebuilt—or just dried out.

9/28/2017 - 3 min read

Mileage drives $5 billion in annual premium leakage

9/21/2017 - 2 min read

Spotting the unseen menace: Medical provider fraud, waste, and abuse

Although the insurance industry is constantly plagued by suspicious claims activity, the unseen menace that’s leading to diminished profits is medical provider fraud, waste, and abuse.