Coalition Against Insurance Fraud

Travelers Institute Announces Winter 2024 Wednesdays with Woodward® Webinar Schedule

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Monday, January 8, 2024
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The Travelers Institute , the public policy division of The Travelers Companies, Inc. (NYSE: TRV ), today announced its Wednesdays with Woodward winter 2024 schedule.

Key Points: 
  • The Travelers Institute , the public policy division of The Travelers Companies, Inc. (NYSE: TRV ), today announced its Wednesdays with Woodward winter 2024 schedule.
  • The webinar series, hosted by Joan Woodward, President of the Travelers Institute and Executive Vice President of Public Policy at Travelers, features thought leaders from both the public and private sectors discussing relevant topics for companies and consumers.
  • This webinar is part of the “Citizen Travelers at the Travelers Institute” program series.
  • Feb. 14: “2024 Economic Outlook with Goldman Sachs’ Chief U.S. Economist” – David Mericle, Goldman Sachs’ Chief U.S.

Shift Technology Debuts Integrated Case Management for Claims Fraud Detection

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Tuesday, December 19, 2023
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BOSTON and PARIS, Dec. 19, 2023 /PRNewswire/ --  Shift Technology, a provider of AI-powered decision optimization solutions for the global insurance industry, today announced the availability of case management for claims fraud detection. Delivered as a fully-integrated add-on module for the company's award-winning Shift Claims Fraud Detection, Case Management provides an end-to-end workflow designed to meet the specific needs of SIUs as they investigate suspicious claims from referral to closure.

Key Points: 
  • BOSTON and PARIS, Dec. 19, 2023 /PRNewswire/ -- Shift Technology , a provider of AI-powered decision optimization solutions for the global insurance industry, today announced the availability of case management for claims fraud detection.
  • Delivered as a fully-integrated add-on module for the company's award-winning Shift Claims Fraud Detection , Case Management provides an end-to-end workflow designed to meet the specific needs of SIUs as they investigate suspicious claims from referral to closure.
  • Case Management for Shift Claims Fraud Detection is available now for current customers.
  • Case management modules for Shift Subrogation Detection and Shift Underwriting Risk Detection are planned for 2024.

Shift Technology and TransUnion Cement Data Sharing Relationship

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Wednesday, October 11, 2023
Shift, NYSE, Fraud, Risk management, Artificial intelligence, AI, SVP, P&C, Coalition Against Insurance Fraud, Shift Technologies, TRU, TransUnion, Cryptocurrency

BOSTON and PARIS, Oct. 11, 2023 /PRNewswire/ -- Shift Technology, a provider of AI-powered decision automation and optimization solutions for the global insurance industry, today announced the company has finalized a relationship agreement with TransUnion (NYSE: TRU), a global information and insights company. As a result, insurers using TransUnion TruLookup™ attributes and data to support their risk management initiatives can now also have that data used to inform Shift Claims Fraud Detection models via a direct feed.

Key Points: 
  • As a result, insurers using TransUnion TruLookup™ attributes and data to support their risk management initiatives can now also have that data used to inform Shift Claims Fraud Detection models via a direct feed.
  • Shift uses both an insurer's internal claims data as well as data from third-party sources to inform its fraud detection models.
  • For carriers who subscribe to TransUnion's TruLookup data, Shift is now able to access that data directly without requiring additional integration work.
  • "The relationship between Shift and TransUnion simply makes sense and provides significant benefit to our customers' fraud mitigation strategies," stated Jeremy Jawish, CEO and co-founder, Shift Technology.

Insurance Fraud Finds a New Enemy in Verisk’s Advanced Image Forensics

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Wednesday, June 14, 2023
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Jersey City, N.J. , June 14, 2023 (GLOBE NEWSWIRE) -- Insurers in the United States now have a new weapon from Verisk in the battle against claims fraud: image forensics.

Key Points: 
  • Jersey City, N.J. , June 14, 2023 (GLOBE NEWSWIRE) -- Insurers in the United States now have a new weapon from Verisk in the battle against claims fraud: image forensics.
  • 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.
  • The image forensics solution will be featured in a webinar on June 21.
  • 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 Surprisingly High Number of Americans Think Insurance Fraud Is Not a Crime, New Survey Shows

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Wednesday, June 7, 2023
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JERSEY CITY, N.J., June 07, 2023 (GLOBE NEWSWIRE) -- A significant number of Americans aged 45 and younger show a high level of tolerance for insurance fraud – even feeling envious of those who commit it – according to a new survey of insurance consumers by Verisk (Nasdaq: VRSK) and the Coalition Against Insurance Fraud.

Key Points: 
  • JERSEY CITY, N.J., June 07, 2023 (GLOBE NEWSWIRE) -- A significant number of Americans aged 45 and younger show a high level of tolerance for insurance fraud – even feeling envious of those who commit it – according to a new survey of insurance consumers by Verisk (Nasdaq: VRSK) and the Coalition Against Insurance Fraud.
  • The study analyzes how American consumers view insurance fraud and insurance crime and delves into the psychology of insurance fraud to understand the motivations and justification for the crime derived from in-depth interviews with those convicted of insurance fraud.
  • “This study should sound the alarm for insurers, consumer activists, regulators, and legislators on the state of fraud in America.
  • While it’s marginally reassuring that 84% of Americans in the survey consider insurance fraud a crime, the 16% that do not consider it a crime potentially represent more than 53 million Americans,” said Matthew Smith, executive director of the Coalition Against Insurance Fraud.

CCC and Verisk Form Strategic Partnership to Bring Innovations to P&C Insurance Claims

Retrieved on: 
Tuesday, May 9, 2023
Technology, Insurance, Automotive, General Automotive, Other Technology, Professional Services, Other Automotive, Software, Networks, Data Management, Coalition Against Insurance Fraud, Partnership, P&C, CCC, APD, FBI, Injury, Fraud, Verisk Analytics

CCC Intelligent Solutions Inc. (CCC) and Verisk Analytics, Inc. (Verisk) announced today a strategic partnership to leverage the two providers’ market-leading technologies to bring new innovations to P&C insurance claims.

Key Points: 
  • CCC Intelligent Solutions Inc. (CCC) and Verisk Analytics, Inc. (Verisk) announced today a strategic partnership to leverage the two providers’ market-leading technologies to bring new innovations to P&C insurance claims.
  • CCC is a leading cloud platform for the P&C insurance economy and Verisk is a leading global data analytics and technology provider.
  • The first project announced through the partnership is the planned integration of anti-fraud analytics from Verisk’s claims fraud detection solution with CCC’s claims platform.
  • This integration will help P&C insurers fight the rising threat of fraud in auto physical damage (APD) claims.

WITH KIA AND HYUNDAI THEFTS SPIKING, INSURANCE INDUSTRY ASSOCIATIONS ENCOURAGE YOUTUBE TO REMOVE 'HOW TO' VIDEOS

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Thursday, January 19, 2023
National Insurance Crime Bureau, Social media, St. Louis Metropolitan Police Department, Cook County Sheriff, International Association, Insurance, Coalition Against Insurance Fraud, National Insurance, Crime, Hyundai-Kia small automobile platforms, Motor vehicle, Hyundai, Special Investigations Unit, Music, Private investigator, Kia

DES PLAINES, Ill., Jan. 19, 2023 /PRNewswire/ -- Thefts of Kia and Hyundai automobiles increased dramatically across the United States in 2022, and insurance industry associations say misuse of social media platforms, like YouTube, by individuals and criminal organizations are contributing to the spike in illegal activity. The National Insurance Crime Bureau, Coalition Against Insurance Fraud, and International Association of Special Investigation Units sent a joint letter to YouTube Chief Executive Officer Susan Wojcicki requesting the social media platform remove "how to" videos that provide detailed instructions for stealing Kia and Hyundai automobiles.

Key Points: 
  • The National Insurance Crime Bureau, Coalition Against Insurance Fraud, and International Association of Special Investigation Units sent a joint letter to YouTube Chief Executive Officer Susan Wojcicki requesting the social media platform remove "how to" videos that provide detailed instructions for stealing Kia and Hyundai automobiles.
  • Los Angeles: An 85% increase in Kia and Hyundai thefts were committed in 2022 compared to 2021, according to Los Angeles police officials.
  • Milwaukee (where the original video was filmed): Two thirds of the 5,144 vehicles stolen in 2021 (through July) were Kia and Hyundai models.
  • We can all play a part in fighting insurance crime," said Matthew Smith, Executive Director of the Coalition Against Insurance Fraud.

Guidewire Taps Skopenow to Deliver Faster Claims Investigations at Scale with New Marketplace App

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Tuesday, January 10, 2023
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Guidewire (NYSE: GWRE) and Skopenow today announced that Skopenow’s new Ready for Guidewire validated accelerator is now available to ClaimCenter users in the Guidewire Marketplace , debuting a new solution to the insurance industry that streamlines investigations and combats fraud.

Key Points: 
  • Guidewire (NYSE: GWRE) and Skopenow today announced that Skopenow’s new Ready for Guidewire validated accelerator is now available to ClaimCenter users in the Guidewire Marketplace , debuting a new solution to the insurance industry that streamlines investigations and combats fraud.
  • To counter this prevalent issue, many insurers have dedicated Special Investigations Units (SIU) that investigate suspected insurance fraud.
  • “Pre-Check was built with an eye towards accuracy and automation,” said Rob Douglas, co-founder and CEO, Skopenow.
  • Integrated with Guidewire, the automation of our technology is only further enhanced, helping our shared customers optimize their claims investigations at tremendous scale.”
    “Congratulations to Skopenow on the release of its new ClaimCenter app,” said Zachary Gustafson, General Manager, Claims & InsuranceNow, Guidewire.

SAS scores a Celent Luminary trifecta in insurance fraud detection solutions

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Friday, November 11, 2022
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CARY, N.C., Nov. 11, 2022 /PRNewswire/ -- SAS is lauded an insurance fraud detection Luminary in Celent's inaugural trio of SolutionScape reports evaluating anti-fraud solutions across insurance market segments. The research and advisory firm analyzed a total 13 vendors' fraud detection offerings in three markets, evaluating each for its level of advanced technology and breadth of functionality.

Key Points: 
  • CARY, N.C., Nov. 11, 2022 /PRNewswire/ -- SAS is lauded an insurance fraud detection Luminary in Celent's inaugural trio of SolutionScape reports evaluating anti-fraud solutions across insurance market segments.
  • SAS is the only vendor recognized as a Celent Luminary for #fraud detection in all three #insurance market segments.
  • Notably, SASwas the only vendor to earn Celent's Luminary designation in all threeof its Insurance Fraud-Detection Solutions, 2022 Edition reports:
    "Insurers' fraud tools have evolved from deploying scenarios to identify individual frauds to revealing fraud patterns based on historical fraud and detecting fraud in real time," said Andrew Schwartz, Insurance Analyst at Celent.
  • SAS' insurance fraud solutions on SAS Viya check all the boxes.

SHIFT TECHNOLOGY BRINGS NEW ACCELERATOR TO GUIDEWIRE MARKETPLACE

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Tuesday, October 18, 2022
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BOSTON and PARIS, Oct. 18, 2022 /PRNewswire/ -- Shift Technology, a provider of AI-driven decision automation and optimization solutions for the global insurance industry, today announced availability of its Claim Fraud Accelerator in the Guidewire Marketplace. Insurers using Guidewire Cloud for claims management can now have fraud alerts from Shift Claims Fraud Detection delivered directly into the environment their claims professionals use every day.

Key Points: 
  • BOSTON and PARIS, Oct. 18, 2022 /PRNewswire/ -- Shift Technology , a provider of AI-driven decision automation and optimization solutions for the global insurance industry, today announced availability of its Claim Fraud Accelerator in the Guidewire Marketplace .
  • The integration of Shift Claims Fraud Detection and Guidewire Cloud, via the new Claim Fraud Accelerator, meets this complex challenge.
  • "Shift and Guidewire have already proven how effective the delivery of fraud alerts directly into the Guidewire claims management environment can be through the earlier Add-on for ClaimCenter ," said Christy Oltmanns, director, solution alliances, Guidewire.
  • "Speed, accuracy, and flexibility are critical in the fight against insurance fraud," explained Drew Whitmore, head of partnerships, Shift Technology.