Auto insurers lose at least $29 billion a year, according to a 2017 study by Verisk, to premium leakage, the “omitted or misstated underwriting information that leads to inaccurate rates.”* Add in the cost of fraudulent claims and the costs grow even larger, up to $40 billion annually. We’re excited to introduce DRNsights for Insurance 𑁋 a powerful new platform fueled by vehicle location data and analytics, with a modern and intuitive user experience. With over 15 billion vehicle location data points in over 300 markets, DRNsights helps prevent premium loss and overpayment by better identifying material misrepresentation and fraud.
Auto insurers lose at least $29 billion a year, according to a 2017 study by Verisk, to premium leakage, the “omitted or misstated underwriting information that leads to inaccurate rates.”* Add in the cost of fraudulent claims and the costs grow even larger, up to $40 billion annually. We’re excited
Last month I attended the Internal Fraud Management Conference in Orlando, and had the chance to talk with insurance fraud investigators and others involved in insurance claims and other investigations. This was the first in-person conference since COVID-19, so everyone who was there was clearly ready to learn, network and
Insurance carriers use a number of data points when determining premiums on auto policies. These can include anything from age, marital status and places of residence and employment, to information about a person’s vehicle and how much they drive. Another common – but somewhat controversial – factor is credit score.
We’re proud of our strong affiliate partnerships and understand the strains repossession agents are under as we continue working through impacts of the pandemic. That’s why we’ve decided to up the ante with our Elevate the Agent (ETA) program and raise our award levels for 2023. ETA rewards agents for
Questions Q: What do you like the most about working here? A: The best aspects of working here at DRN are being able to ease people’s workloads, help business areas perform better, and the people that work here at DRN. Q: What does your job entail? A: I warehouse data for
DRN and MVTRAC were happy to be part of Used Car Week (UCW) by Cherokee Media Group in November. From moderating sessions, facilitating breakouts and hosting special events, we had a productive four days in Las Vegas. UCW continues to be the premiere gathering of leaders from across the used
You may have heard that most telecom companies will switch to 4G (or even 5G) networks in 2022. This means that existing 3G networks will shut down over the next 12 months. Why is this important – especially for Buy Here Pay Here lenders? First, let’s define exactly what all
DRN attended the North American Repossessors Summit again this year in October 2021 at the Omni, Las Colinas. This is the largest gathering of its kind in the repossession industry and was a great chance for us to interact with our Affiliates and Industry Leaders. This was DRN’s first year
The International Association of Special Investigation Units (IASIU) held its annual conference in Orlando, in September. The event hosted industry pros to learn, collaborate and network on various topics. We found that most attendees at the conference were familiar with license plate recognition (LPR) technology and its use in investigations.
Businesses of all types are learning the value of license plate recognition (LPR) to their marketing efforts. Using LPR data and analytics can provide useful market insights. One proven method is for a business to place an LPR camera on-site near its entry to capture vehicle images of their customers.
Questions Q: What do you like the most about working here? A: The challenges and learning opportunities that come with rolling out new products. Q: What is your current role at DRN? A: I’m currently a business data analyst here at DRN. Q: What does your job entail? A: I utilize data to provide insights and
License Plate Recognition (LPR) and DRNsights – DRN’s proprietary analytics platform – offers Lenders a powerful tool that can be useful at all points of the loan process. DRNsights uniquely combines billions of LPR records with patented analytics to build full vehicle stories. These can help lenders make informed risk