This article is adapted from an earlier version published by Auriemma Roundtables. This DRN edition has been updated for our audience. The Growing Scope of the Challenge Auto insurance fraud remains one of the toughest problems confronting the U.S. insurance market. The Coalition Against Insurance Fraud estimates that fraudulent activity
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.
Introduction: License Plate Recognition (LPR) technology has become a vital tool in various industries, ranging from insurance fraud detection, repossession, vehicle safety recalls, opt-in commercial marketing, retail crime prevention and beyond. This revolutionary technology uses AI to read and analyze plate information. LPR recognition technology is an innovative tool that,
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
This article is adapted from an earlier version published by Auriemma Roundtables. This DRN edition has been updated for our audience. The Growing Scope of the Challenge Auto insurance fraud remains one of the toughest problems confronting the U.S. insurance market. The Coalition Against Insurance Fraud estimates that fraudulent activity
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.
Introduction: License Plate Recognition (LPR) technology has become a vital tool in various industries, ranging from insurance fraud detection, repossession, vehicle safety recalls, opt-in commercial marketing, retail crime prevention and beyond. This revolutionary technology uses AI to read and analyze plate information. LPR recognition technology is an innovative tool that,
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