Insurance
According to industry studies, the annual cost of insurance fraud is between $85 and $120 billion, and it’s growing at a rate of 10% per year. Technology has assisted these criminal activities; now, it can be used to combat them with our comprehensive set of solutions that help you mitigate risk.
LexisNexis® Risk & Information Analytics Group offers a comprehensive set of solutions to help insurance companies mitigate risk.
We offer comprehensive verification, validation and authentication tools in order to help health insurers combat fraud and protect their organizations.
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Verify the identities of providers and suppliers |
Improve your collections and subrogation efforts |
Verify the identities of providers and suppliers
Minimize risk and prevent improper payments by verifying the identities of applicants, claimants, providers, and suppliers. InstantID® searches both business and consumer records to verify such essential data as name, address, and social security or Federal Identification number, and it alerts you to indicators of identity theft or fraud.
Prevent and investigate fraud
LexisNexis® offers variety of tools to help you streamline your investigations and perform due diligence research. Accurint® for Insurance is a fast, effective solution for combating fraud, protecting your organization’s assets, and complying with federal regulations. Accurint® helps you identify and locate people, obtain information about businesses and assets, and learn more about the complex relationships between them—all through a single, easy-to-use online interface.
Fight application and premium fraud
LexisNexis® Rate Evasion Evaluation helps insurance providers prevent application and premium fraud by detecting such applicant misrepresentations as identity, address, ownership and registration information, and property characteristics. In order to ascertain whether or not a potential customer has falsified application information, Rate Evasion Evaluation verifies everything from date of birth, address and telephone numbers to ownership, registration information, and even vehicle location and characteristics.
Order medical records
LexisNexis® Medical Records Retrieval offers a fast, convenient way to order records and verify your customers’ medical histories. Our secure, web based interface allows you to request orders and to view the status of each request in real-time, 24 hours a day, seven days a week. We also offer additional research services whenever you suspect that a customer has omitted crucial information.
Offline Civil and Criminal Court Records (OCCCR) provides comprehensive access to court records and allows you to search for signs of criminal activity, evidence of financial distress, and indications of multiple claim activity.
Improve your collections and subrogation efforts
Recover assets and settlements and increase revenue with LexisNexis® Collections Management solutions. This powerful suite of tools helps you investigate debtors and uncover any potential third-party liability for claims payment, whether partial or in full.
Find new customers
We offer a variety of direct marketing solutions to help you find new customers and expand your business. Targeted Consumer Lists provides you with accurate, relevant consumer data in order to help you locate the very best prospects. With Data Enhancement, you’ll learn more about your current customers, identify look-alikes to your best responders, and generate broader and more successful marketing campaigns. And Data Hygiene can help you optimize your address files, detect name changes, and create a complete, single customer view for up- and cross-selling.
Screen prospective employees and business partners
LexisNexis® Background Screening Solutions help you limit your liabilities while remaining fully complaint with federal and state privacy regulations, as well as FCRA requirements. LexisNexis® Applicant Screening offers comprehensive verification and analysis of high risk elements like education, financial history, and legal standing for both individual applicants and corporate vendors. Express Screening is designed for organizations that need fast, easy, and legally compliant pre-employment screening or tenant applicant background checks. You can evaluate the risks associated with prospective business partners with Vendor Screening, a cost-effective, easy-to-use tool that evaluates businesses’ financial history, legal standing, and performance records.
Comply with federal regulations
Many states require insurers to fight fraud in order to protect honest consumers. Accurint® for Insurance provides an auditable record that you and your organization are investigating suspicious activity. LexisNexis® Risk & Information Analytics Group also offers a variety of anti-money laundering solutions to help you comply with federal regulations.
How can we help your company? For more information about our solutions call (800) 869-0751 or email us now
