Nationwide Implements Verisk’s ClaimDirector Fraud Detection Solution
JERSEY CITY, N.J., January 11, 2018 — Verisk (Nasdaq:VRSK), a leading data analytics provider, is pleased to announce that Nationwide has implemented Verisk’s newly enhanced ClaimDirectorSM solution to assist in the detection of potential insurance fraud.
Commenting on Nationwide’s move to implement ClaimDirector, Lynne Brady, Nationwide’s vice president of External Fraud, stated, “We wanted accurate and timely identification of potentially fraudulent claims through an objective and consistent approach.”
ClaimDirector identifies potential fraud indicators at first notice of loss for each incoming claim, and the system updates when new information is added.
Brady continued, “Nationwide believes applying advanced technology to antifraud efforts will help protect our members. Adopting proactive antifraud technologies like ClaimDirector is essential in deterring insurance fraud.”
Mitigating the impact of fraudulent claims helps Nationwide maintain its position within a very competitive market, Brady said.
With the addition of ClaimDirector to Nationwide’s proactive approach to fighting fraud, the company’s claims organization intends to use the innovative features that ClaimDirector offers, including, but not limited to, a business intelligence dashboard, triage page, interactive key claim information, and visual prior-loss timeline. Because ClaimDirector is delivered through the new visualized ISO ClaimSearch® platform, customers can implement the solution with minimal IT involvement.
Carlos Martins, vice president and general manager of ISO ClaimSearch Solutions at Verisk, explained, “We evolved ClaimDirector to provide adjusters and SIU teams with a better way to access instantaneous insights based on our industrywide claims database. ClaimDirector indicates precisely why the claim triggered potential fraud indicators, guiding investigative direction.” Martins added, “We look forward to working with Nationwide as they implement this solution across their claims organization.”
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, natural resources, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500® Index. In 2017, Forbes magazine named Verisk to its America’s Best Mid-Size Employers list and to its World’s Most Innovative Companies list. Verisk is one of only seven companies to appear on both lists. For more information, please visit www.verisk.com.
Edelman (for Verisk)