Insurance Fraud Finds a New Enemy in Verisk’s Advanced Image Forensics
14 Junho 2023 - 10:00AM
Insurers in the United States now have a new weapon from Verisk in
the battle against claims fraud: image forensics. Verisk (Nasdaq:
VRSK), a leading global data analytics and technology provider, is
expanding its anti-fraud claims solution with artificial
intelligence that will enable insurers to identify potential fraud
in claims photos with lightning speed and laser precision.
Drawing on millions of claims images in Verisk’s databases,
including the loss history database ClaimSearch®, the image
forensics solution analyzes every image submitted as part of a
claim to detect indicators of fraud. Without any human
intervention, the solution automatically flags photos that have
been altered, manipulated or downloaded from the internet. Using
ClaimSearch, Verisk’s solution also identifies images that have
been submitted to other insurers. The image forensics solution will
be featured in a webinar on June 21.
The digital transformation of insurance fraud
Reusing or altering photos is just one example of the growing
trend of insurance fraud, which costs the United States
approximately $308.6 billion annually, according to the Coalition
Against Insurance Fraud.
A Verisk study of a sample group of 768,000 claim images found
1,967 duplicates, including one photo used in 44 different claims.
These duplicate claim images could be linked to 1,475
separate claims for which approximately $5.3 million in indemnity
payments were made.
“The ubiquity of mobile devices, photo editing software and
claims filing applications is making it easier than ever to submit
fraudulent images of damages to insurers,” said Shane Riedman, vice
president and general manager of anti-fraud analytics for Verisk
Claims Solutions. “The image analytics and alerts we’re adding to
ClaimSearch gives insurers the ability to quickly, automatically
identify and investigate suspect claims, while simultaneously
accelerating meritorious claim resolution for the vast majority of
policyholders.”
Insurers who contribute claims data to ClaimSearch -- currently
more than 95 percent of the industry – can submit claims photos and
access certain image forensics checks with their current
ClaimSearch subscription. To date 315 insurers have signed up to
contribute images, and nearly half of the top 20 P&C carriers
are accessing the solution today.
About Verisk Verisk (Nasdaq: VRSK) is a leading
strategic data analytics and technology partner to the global
insurance industry. It empowers clients to strengthen operating
efficiency, improve underwriting and claims outcomes, combat fraud
and make informed decisions about global risks, including climate
change, extreme events, ESG and political issues. Through advanced
data analytics, software, scientific research and deep industry
knowledge, Verisk helps build global resilience for individuals,
communities and businesses. With teams across more than 20
countries, Verisk consistently earns certification by Great
Place to Work and fosters an inclusive culture where
all team members feel they belong. For more,
visit Verisk.com and the Verisk Newsroom.
Michelle Pantina
Verisk
551-500-7327
michelle.pantina@verisk.com
Verisk Analytics (NASDAQ:VRSK)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Verisk Analytics (NASDAQ:VRSK)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024