Verisk Expands Fraud-Fighting Capabilities for the Insurance Ecosystem with Two New Strategic Partnerships
05 March 2024 - 1:08AM
Verisk (Nasdaq:VRSK), a leading global data analytics and
technology provider, today announced two new collaborations with
insurance technology companies designed to bolster fraud detection
and analysis in the insurance claims process. FRISS and Globlue
Technologies will join the Verisk Claims Solutions ecosystem by
integrating with Verisk's ClaimSearch® platform, which includes the
world's largest property and casualty (P&C) claims database
containing over 1.7 billion claims from throughout the U.S.
Verisk’s ClaimSearch platform plays a crucial role in combating
the estimated $309 billion annual toll insurance fraud imposes on
American businesses and consumers by providing P&C carriers
with access to claims data, advanced fraud detection and
investigative analysis tools. The platform connects more than
200,000 professionals from carriers, regulatory agencies, law
enforcement and claim service providers.
“Verisk is uniquely positioned to serve the insurance industry
by providing the platform to support the P&C claims ecosystem.
By integrating with FRISS and Globlue Technologies, we're not just
expanding the ecosystem — we’re also setting new benchmarks in the
fight against fraud,” said Shane Riedman, vice president and
general manager of anti-fraud analytics at Verisk. “ClaimSearch
serves as the foundation for insurance fraud detection and
prevention. This collaboration equips our clients and partners with
unparalleled insights and tools, expanding the industry’s ability
to stop fraudulent claims.”
Strengthening the P&C Anti-Fraud
Ecosystem
The ClaimSearch Partnership enables insurance technology
providers to integrate with the ClaimSearch platform, allowing
insurers to select the technology that best fits their individual
business needs.
The integration will facilitate advanced fraud analysis and
detection, including more complex scoring and triaging to improve
decision-making. Additionally, it eliminates the manual fraud
detection process, saving valuable time and reducing operational
costs for end-users.
“We are thrilled to participate in this ecosystem partnership
with Verisk,” says Jeroen Morrenhof, CEO and co-founder of FRISS.
“FRISS is excited to partner with Verisk's ClaimSearch
platform to inject invaluable data and insights within the
FRISS Score. This will enable mutual Verisk and FRISS customers to
detect fraud with much higher accuracy and predictability. We
are eager to collaborate on this transformative journey with Verisk
to bring more efficiency and impact to the anti-fraud
community.”
“Through this integration, mutual customers will leverage ARKHOS
Analytics’ enhanced identity resolution, which provides advanced
intelligence and analytics capabilities. This brings carriers’
investigative data, third-party data and Verisk data together in a
single dashboard, allowing analysts to perform advanced analysis in
real-time, accelerating the data-to-decision process, as it relates
to fraud detection,” said Adrian Silva, president and CEO at
Globlue Technologies.
About VeriskVerisk (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.
About FRISSWhat would your processes look like
if you could instantly trust your customers? Knowing when to trust
keeps you in control of your processes – automating as much as
possible. FRISS is the leading provider of Trust Automation
Solutions for P&C insurers. Its real-time, data-driven scores
and insights give instant confidence and understanding of the
inherent risks of all customers and interactions.
Based on next generation technology, FRISS allows you to
confidently manage trust throughout the insurance value chain –
from the first quote all the way through claims and investigations
when needed.
Because speed and convenience have altogether redefined what it
means to serve consumers, it is time to start building the
relationships your customers demand and deserve.
For more information, please reach out to: FRISS
About Globlue Globlue Technologies is a global
provider of advanced analytics for use in insurance fraud
investigations, commercial fraud investigations, counter-financial
crimes, law enforcement, anti-money laundering, intelligence &
counter-intelligence operations, and security & cyber
intelligence.
To learn more, visit us at www.globlue.com.
Mary Keller
Verisk
339-832-7048
mary.keller@verisk.com
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