NYCM Insurance Implements Verisk’s ClaimDirector

January 7, 2019 / 2 min read

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.”

About New York Central Mutual
NYCM Insurance is a property and casualty insurance carrier that has been providing coverage to residents and businesses in New York since 1899. The company offers automobile, homeowner, mobile home, umbrella, and commercial policies and is rated A by A.M. Best Company. For more information, call 800-234-6926 or visit www.nycm.com.

About Verisk
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.

Contact:
Brett Garrison
Edelman (for Verisk)
917-639-4903
Brett.Garrison@edelman.com

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