For auto insurance companies, protecting their bottom line is paramount to ensure successful operations and fair premiums for their policyholders. Which is why understanding garaging misrepresentation, one of the main issues plaguing these companies and costing close to $2.9 billion*, is vital in order to craft effective strategies to combat it.
License Plate Reader (LPR) cameras capture and analyze vehicle license plate information for security and operational efficiency. Used in parking lots, toll booths, and repossession trucks, they leverage advanced OCR technology for accurate identification. Ideal for recovery, fraud detection, and marketing, LPR cameras enhance monitoring, data collection, and safety in various environments.
Introduction Insurance fraud has become a colossal challenge plaguing the insurance industry. According to the Coalition Against Insurance Fraud, roughly $45 billion dollars in losses happen annually in the property and casualty sector. Combatting insurance scams demands cutting-edge technologies and advanced data analysis techniques. Enter License Plate Recognition (LPR) data—a
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.
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.
DRN partners with insurance companies of various types and sizes to add the value of license plate recognition (LPR) data and our DRNsights analytics to multiple stages of the insurance cycle. LPR is used often by insurers during underwriting POS and renewal to help assess risk, confirm rating accuracy and
DRN’s first-ever Virtual Showcase brought together experts from across the auto industry to discuss perspectives, trends and best practices for using license plate recognition (LPR) data to solve various challenges and drive success. One section of the agenda focused on the auto insurance piece of the industry, specifically on how
As North America’s premier commercial license plate recognition (LPR) data provider, we offer the richest data set and analytics available. For insurers, our extensive database of billions of license plate scans – which include addresses and date/timestamp – can play a major role in fraud cases from vehicle location to
The last several months have created numerous challenges and changes for businesses of all kinds. But one thing that hasn’t changed is the value of bringing experts together to discuss the state of our industry, best practices, and trends and innovations that can drive our future success. While we can’t
For auto insurance companies, protecting their bottom line is paramount to ensure successful operations and fair premiums for their policyholders. Which is why understanding garaging misrepresentation, one of the main issues plaguing these companies and costing close to $2.9 billion*, is vital in order to craft effective strategies to combat it.
License Plate Reader (LPR) cameras capture and analyze vehicle license plate information for security and operational efficiency. Used in parking lots, toll booths, and repossession trucks, they leverage advanced OCR technology for accurate identification. Ideal for recovery, fraud detection, and marketing, LPR cameras enhance monitoring, data collection, and safety in various environments.
Introduction Insurance fraud has become a colossal challenge plaguing the insurance industry. According to the Coalition Against Insurance Fraud, roughly $45 billion dollars in losses happen annually in the property and casualty sector. Combatting insurance scams demands cutting-edge technologies and advanced data analysis techniques. Enter License Plate Recognition (LPR) data—a
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.
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.
DRN partners with insurance companies of various types and sizes to add the value of license plate recognition (LPR) data and our DRNsights analytics to multiple stages of the insurance cycle. LPR is used often by insurers during underwriting POS and renewal to help assess risk, confirm rating accuracy and
DRN’s first-ever Virtual Showcase brought together experts from across the auto industry to discuss perspectives, trends and best practices for using license plate recognition (LPR) data to solve various challenges and drive success. One section of the agenda focused on the auto insurance piece of the industry, specifically on how
As North America’s premier commercial license plate recognition (LPR) data provider, we offer the richest data set and analytics available. For insurers, our extensive database of billions of license plate scans – which include addresses and date/timestamp – can play a major role in fraud cases from vehicle location to
The last several months have created numerous challenges and changes for businesses of all kinds. But one thing that hasn’t changed is the value of bringing experts together to discuss the state of our industry, best practices, and trends and innovations that can drive our future success. While we can’t