Verisk Analytics : NYCM Insurance Implements Verisk’s ClaimDirector and NetMap Fraud Detection Solutions

JERSEY CITY, N.J., January 7, 2019 - Verisk (Nasdaq:VRSK), a leading data analytics provider, is pleased to announce that NYCM Insurance has implemented Verisk's newly enhanced ClaimDirector^SM and NetMap for ClaimSearch^™ solutions to assist in the detection of potential insurance fraud.

'We wanted the ability to identify potentially fraudulent claims quickly and accurately,' said Jim Potts, NYCM's vice president of SIU. 'We identified ClaimDirector and NetMap as the right solutions in our fight against fraud.'

ClaimDirector identifies fraud indicators at first notice of loss for incoming claims, and the system updates when new information is added. NetMap^® provides capabilities that help identify fraud ring networks and other critical connections among a company's claims and industrywide loss history data.

ClaimDirector can help NYCM Insurance to fight fraud proactively through innovative features such as a business intelligence dashboard, triage page, interactive key claim information, and a visual prior-loss timeline. ClaimDirector is delivered through the new visualized ISO ClaimSearch^® platform, so customers can implement the solution with minimal IT involvement. NetMap will allow for insights into complex and emerging organized fraud activity within and between claims.

'We evolved ClaimDirector to provide adjusters and SIU teams with a better way to access real-time insights based on our industrywide claims database,' said Carlos Martins, vice president and general manager of ISO ClaimSearch Solutions at Verisk. 'ClaimDirector indicates why the claim triggered potential fraud indicators, guiding investigative direction.'

'Additionally, our continued investment in NetMap provides next-generation capabilities to quickly identify and understand the dynamics of organized fraud networks,' added Martins. 'We're really excited to have NYCM join hundreds of other insurers, self-insureds, and third-party administrators that are using our antifraud analytics to help process meritorious claims faster across all lines of business. NYCM Insurance is showing real industry leadership combating fraud.'