Verisk Names Shane Riedman President of Anti-Fraud Analytics

October 8, 2024 / 3 min read

JERSEY CITY, N.J., October 8, 2024 — Verisk, (Nasdaq: VRSK), a leading global data analytics and technology provider, has announced that Shane Riedman has been named President of Anti-Fraud Analytics.

With more than two decades of experience, Riedman began his insurance career as a field investigator, ultimately leading the special investigations unit at CNA Insurance. Riedman joined Verisk seven years ago to lead several of Verisk’s fraud prevention and detection programs, including medical provider fraud, mobile tools, and SIU case management. He has a law degree from Lewis and Clark Law School and holds the FCLS designation. In his previous role as vice president and general manager of Verisk Anti-Fraud Analytics, Riedman led development of the anti-fraud products portfolio, notably expanding the ClaimSearch ecosystem to third-party partners and providers via the ClaimSearch Partner Program.

Verisk’s anti-fraud claims solutions provide the property and casualty (P&C) insurance industry’s first line of defense against claims fraud, a $308.6 billion annual drain on the U.S. economy, according to the Coalition Against Insurance Fraud, that impacts insurance carriers, businesses and consumers alike. Insurance fraud continues to grow in scope and sophistication with the help of technologies like generative AI and users' ability to create images and deep fakes. And keeping pace with new technology to combat fraud is a top challenge, according to a recent Verisk survey of industry professionals. As president of Anti-Fraud Analytics, Riedman will focus on driving client-centric innovation, staying ahead of emerging trends while helping customers solve their most challenging problems.

“Since he joined Verisk, Shane has directed the development of innovative solutions and products that now support our clients and partners across the claim lifecycle in the U.S. and abroad,” said Maroun Mourad, president of claims solutions at Verisk. “I’m confident that Shane’s focus on anticipating the needs of claims professionals, and his commitment to collaborating with colleagues, clients and partners will drive the innovation needed to help clients increase speed and accuracy in processing claims, while also creating an optimal user experience for policyholders and adjustors.”

Verisk’s robust anti-fraud claims solutions include:

ClaimSearch^®, the world’s largest P&C claims database now including 1.8B claims, which enables deep insights to identify patterns and trends for better fraud detection, claim analysis, and decision-making.
Claims Coverage Identifier, a comprehensive, detailed auto claims report used to initiate subrogation and recovery activity from first notice of loss (FNOL).
Digital Media Forensics, which is an AI solution that analyzes hundreds of millions of loss photos and documents to identify fraud.
Claim Scoring, leveraging precise predictive analytics and expert rules to swiftly and accurately detect potential claims fraud.
Provider Scoring, an AI solution built on aggregated industry data that monitors medical provider behaviors across the industry to uncover medical fraud, waste and abuse.
Network Analysis, a link analysis tool built for insurance investigators designed to reveal connections among people, places, and things to detect organized insurance fraud rings and collusive activities.
Research Hub, a single source of public and proprietary records to backfill and prefill missing information, giving claim professionals and investigators more clarity when processing a claim.

“Technological advancements and evolving client needs have driven major changes in claims handling in recent years,” Riedman said. “This generational shift in the industry calls for a new approach to product design and user experience. I’m excited to continue deepening Verisk’s relationship with our clients and with partners across the claims ecosystem to ensure we are providing intuitive, comprehensive, and fast-acting solutions that help our clients do their important work.”

Learn more about Riedman’s vision for the future of Anti-Fraud Analytics.

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About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 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.

Amy Ebenstein
Verisk
551-225-0585
amy.ebenstein@verisk.com