Property Carriers Beat Fraud with New Prior Loss Images in Verisk’s ISO ClaimSearch® - Yahoo Finance
Jersey City, N.J., Jan. 27, 2021 (GLOBE NEWSWIRE) -- Verisk (Nasdaq:VRSK) announced that ISO ClaimSearch , the world's largest database of property and casualty insurance (P&C) claims, has enhanced its robust claim intelligence platform by adding prior loss image matching. This automates previously laborious processes and significantly bolsters fraud protection. Millions of property images have been added to the system, which contains over 1.5 billion claim records and receives ongoing contributions from more than 90% of P&C insurers. Verisk created this enhancement – available at no cost to participants -- by tapping into participant-authorized claim images from its Xactware property estimation system. How ISO ClaimSearch works: As adjusters review ISO ClaimSearch match reports, a simple on-screen camera icon easily identifies prior claims containing photos. Prior loss images may reveal pre-existing damage, or the same damage being claimed again. Image forensics e...