Compliance is complex, costly, constant, and compulsory: A full national build-out of auto liability insurance reporting (ALIR) costs up to $15 million.1 Where insurance and lending intersect, a lack of uniform identifiers connecting policy, loan, and claim numbers can impede communication among insurance, lending, claims, and tracking stakeholders.
Enhance efficiency by outsourcing state DMV reporting, lienholder notices, and escrow invoices to an industry leader serving nearly half of the top 25 insurers.2
Use advanced technology that detects reportable events, timelines, and formats to automatically notify DMVs and those with an insurable interest in the policy.
Meet non-negotiable DMV reporting and lienholder notification requirements with Verisk’s out-of-the-box services. Spend less on efforts that don’t grow your top line.
Navigate the intricate, ever-changing regulatory landscape with confidence, simultaneously mitigating the risk of state fines and policyholder penalties.
Harness policy data contributed to Coverage Verifier (CV) for once-and-done updates, fulfilling regulatory reporting requirements without cumbersome tracking.
One submission enables insurers to manage DMV reporting, lienholder notices, and escrow invoices—and have access to a lender-facing portal.
CV Compliance suite comprises state-of-the-art decision engines and intelligent entry web portals to address the ecosystem compliance needs of insurers, lenders, claim servicers, and trackers.
For personal or commercial auto and property, CV contributors maintain a single data feed to support multiple lines of business for various mandatory reporting requirements.
Cut costs, simplify maintenance, and ensure compliance across 38 jurisdictions. One data feed connects you to a proprietary decision engine with customer-specific requirements to enable distribution and acknowledgment of all DMV transactions in the format and frequency mandated. Get one-stop access to transaction history, error handling, and performance reports all in one solution.
Tame compliance logistics and labor-intensive communications at the intersection of lending and insurance with a robust infrastructure for accurate notice of policy changes to lienholders, loss payees, mortgagees, lessors, and others with an insurance interest in the policy. Identify and correct address issues; simplify return mail handling and escrow invoice distribution; and reduce payment delays.
Boost lender-insurer efficiency with CV-Verification as a Service. Streamline lienholder verification, a traditionally manual and inefficient process. Resolve disparate key identifiers (loan, policy, and claim numbers) with a unified data source.
Use Verisk's configurable decision engine to flexibly accommodate regulatory requirements that vary state by state.
Future-proof your business with a partner that puts you in the driver’s seat.
Accelerate data-forward quoting and modernize buying journeys to keep more business in the pipeline and boost conversion rates.
Harness data-driven analytics to detect fraud and take on premium leakage across the policy life cycle.
Achieve precise and optimized quotes by integrating claims data upfront, plus a new crash report enhancement for auto.
Rethink MVR expenses—one of the costliest aspects of auto insurance underwriting—with a transformative solution.
Gain a chronological, 360-degree view of risk, unlock predictive behavioral patterns, and discover multiple use cases.
1 Verisk client experience.
2 Verisk analysis, automobile liability insurance reporting outsourcing among top-25 personal auto insurers.