Predictive Analytics

2/27/2020 - 4 min read

Five data-driven strategies for fighting insurance claims fraud

As we enter 2020, the insurance industry looks much different than it did ten years ago.

2/4/2020 - 2 min read

New credit-based insurance score taps two powerful resources

Verisk and Equifax have joined to create Inflection, a credit-based insurance score powered by a trended-credit model to increase its predictive potential.

1/16/2020 - 5 min read

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.

12/20/2019 - 4 min read

Property/casualty medical fraud: 5 strategies for reducing your exposure

It seems like every month there’s news of another medical fraud bust, often involving rings of various types of providers. But that’s just the tip of the iceberg.

11/19/2019 - 3 min read

How Insurers Can Know When to Enter a New Market or Line of Business

By using powerful data tools, insurers can discover which markets have strong growth potential.

11/15/2019 - 4 min read

Litigation insights offer the key to rising claim costs

Legal analytics make it possible for insurers to derive actionable insights from legal data to improve claims handling and litigation outcomes.

11/15/2019 - 4 min read

All-or-nothing automation? Incremental change is a winning proposition

Robotic process automation (RPA), machine learning, and AI can be embedded in processes throughout the claim life cycle—from triaging through settlement.

11/15/2019 - 4 min read

Successful workers’ comp analytics starts with the right plan

Workers’ comp analytics can improve claims process by identifying high-severity claims early, promoting consistency in claim handling, and improving return-to-work results.

11/4/2019 - 3 min read

3 keys to stopping medical provider fraud, waste, and abuse

It’s no secret that medical fraud is a big problem, with some sources estimating the cost at more than $200 billion annually.

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.

8/26/2019 - 2 min read

Getting serious about fighting medical provider fraud

Complex medical bills can make it difficult for adjusters—already overloaded with cases—to find potential fraudulent or excessive billing.

8/15/2019 - 2 min read

One-rate auto insurers can own the future

Digital transformation can play a key role in boosting the number of auto insurance customers who make a seamless journey from quote start to bind.

3/8/2019 - 2 min read

AER and team demonstrate benefits of using machine learning in subseasonal-to-seasonal forecasting

A team from Verisk's Atmospheric and Environmental Research (AER), Massachusetts Institute of Technology (MIT), Microsoft Research, and Stanford University published an opinion article in WIREs Climate Change on the benefits of applying machine learning to the practice of subseasonal-to-seasonal (S2S) weather prediction.

2/1/2019 - 2 min read

Rate Call 2 is a dinosaur; InsurTech is the incoming meteor

Competition and tight margins have driven many personal auto insurers to a sales process in which a customer may see the quoted rate change before bind.

11/9/2018 - 3 min read

Aerial imagery, artificial intelligence, and automation on display during 2018 Verisk Risk & Analytics Summit

Aerial imagery, connected cars and homes, artificial intelligence, and automation were just a few of the topics discussed at the third annual Verisk Risk & Analytics Summit, as more than 230 property/casualty professionals gathered to share ways to rethink insurance for a rapidly changing world.