LONDON, ON, Jan. 23, 2013 /CNW/ - Three years ago, CarProof began
working with i2iQ and 10 participating insurers to develop a unique
tool to assist claims departments in identifying potential fraud
activity during the claims adjusting process. The result of all this
effort is the launch of eSmartClaims ("eSmart") which CarProof is introducing in January 2013.
eSmart is a real-time screening tool that electronically accesses
multiple data sources to collect fraud-sensitive key indicators taken
from the claims history of the insured and the vehicle. This data is
processed through a rules-based engine to flag if the insured has a
high probability of being fraudulent with a claim. If the insured fails
the eSmart test, the insurer is immediately notified electronically
prior to authorizing the repair work.
One major benefit to insurers is that eSmart will not disrupt the claims
workflow and in most cases will not require any IT changes within the
insurer's claims processing system. eSmart is triggered by the
assignment the insurer sends to the repair shop. eSmart has been
fine-tuned resulting in alerts being forwarded to the insurer for 3-5
per cent of claims.
This tool has been designed as a real-time solution for identifying
potentially fraudulent claims as they are processed and is
complementary to other industry fraud detection initiatives, which use
predictive modeling techniques to identify organized (cross-insurer)
The results of the proof of concept studies and cost/benefit analysis
are eye-opening and readily available. Claims departments can contact
CarProof to subscribe to a no-obligation trial or to register for an
upcoming eSmart focus group session.
CarProof is a proudly Canadian company which began by offering vehicle
history reports that are now the most trusted and comprehensive in
Canada. Following the corporate vision of providing insight through
information and transparency, CarProof is expanding its reach by
launching insurance services, corporate services and police service
focuses in 2013.
SOURCE: CarProof Vehicle History Reports
For further information:
CarProof Insurance Services