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 Carrier Identification
Most claims are legitimate, but many are fraudulent. ChoicePoint has a data solution that can help you address certain fraud indicators. ChoicePoint’s Carrier Discovery, a contributory database of personal auto policy information from the P&C industry, helps insurers improve claims outcomes by determining if a claimant is insured, by whom, and whether there are multiple policies or multiple claims for the same damage.
The Carrier Discovery database is:
- Reliable – Data contributions come directly from auto carriers.
- Current – 90% of contributions occur daily or weekly (balance occurs monthly).
- Deep – Participating carriers currently represent almost 70% of the total U.S. personal auto market.
- Robust – Information fields include policy number, carrier name, coverage type, driver names, vehicle details, and policy inception, cancellation, endorsement and renewal dates.
Benefits:
- Reduces number of “Carrier to Carrier” claims processed for recovery.
- Cuts administrative costs, such as carrier denial letter.
- On average, recovery of $2,500.
- Quickly identifies suspicious inception dates.
For more information about Carrier Discovery, please click here.
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