Verisk Earns “Luminary” Status for Claims Fraud-Detection Solutions in Celent Reports
Both Property/Casualty and Life Insurance Solutions from Verisk Recognized for Advanced Technology and Breadth of Functionality
JERSEY CITY, N.J. – Verisk (Nasdaq: VRSK), a leading global data analytics provider, has been recognized by Celent as a “Luminary” for developing innovative solutions that help property/casualty and life insurers detect claims fraud.
Verisk placed in the top group of providers for Advanced Technology and Breadth of Functionality in the Celent Technical Capability Matrix, a new feature of the 2022 reports. The reports evaluated a total of 17 fraud-detection solutions for the property/casualty and life insurance markets.
“Verisk’s fraud-detection solutions are recognized as Luminaries owing, in large part, to their highly advanced functionality and ability to integrate with third-party data,” said Andrew Schwartz, an analyst at Celent and co-author of the report. “The outcome is a faster, smarter, and more accurate claims experience.”
Verisk’s anti-fraud solutions are supported by robust data sources, including ClaimSearch®, which contains more than 1.5 billion claims from across the industry. ClaimSearch includes data from both first- and third-party claimants as well as service providers, which is essential for insurers to detect and prevent fraud.
With artificial intelligence, image forensics, and automation, Verisk’s anti-fraud solutions help insurers quickly identify potential fraud and accelerate payments to the majority of policyholders with meritorious claims.
“Advanced analytics and automation are critical for insurers today, who are facing inflation, material and labor shortages, and new fraud schemes every day,” said Maroun Mourad, president of claims solutions at Verisk. “The recognition by Celent is a testament to how Verisk’s innovative, end-to-end solutions are helping insurers streamline workflows, improve claims management, and transform the customer experience.”
Learn more about Verisk’s claims solutions.
Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 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.