Verisk Insurance Solutions - Underwriting, a unit of Verisk Analytics, has announced the availability of automated screening for fraud and premium leakage in new auto insurance policies.
The technology is designed to enable insurers looking to run Verisk's RISK:check Point of Sale fraud model on every new policy record contributed to Verisk's Coverage VerifierSM database. This process represents a significant change from current industry practice, according to Verisk, which typically focuses on catching fraud at the time of claim. By screening new policies, insurers should be better able to identify fraud and rate evasion with an opportunity to take action.
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