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LexisNexis® Risk & Information Analytics Group Launches Accurint® for Insurance Plus, To Help Validate Claims and Combat Fraud
Data visualization and link analysis tool maps complex or hidden connections between entities
NEW YORK, NY, March 12, 2008 - LexisNexis® Risk & Information Analytics Group has released Accurint® for Insurance Plus, a data visualization and link analysis tool developed to help claims and investigative professionals uncover, interpret and map relationships between entities by displaying a graphical chart of the connections between people, businesses, assets, locations and events. Insurance fraud is one of America’s largest criminal industries costing Americans at least $80 billion a year, or nearly $950 per family, as estimated by the Coalition Against Insurance Fraud. Accurint for Insurance Plus helps to validate claims and combat fraud, waste and abuse. Accurint for Insurance Plus, is part of the Fraud Prevention solution by LexisNexis Risk & Information Analytics Group.
Developed with industry collaboration, Accurint for Insurance Plus offers both mapping and satellite imagery in one combined tool, and is geared to meet the needs of insurance professionals including Special Investigative Units, Claims, Audit, Corporate Security, Catastrophe and Commercial Underwriting.
"Investigating insurance claims can be a cumbersome, expensive challenge," said Jan Tankersley, vice president of insurance and health care solutions for LexisNexis Risk & Information Analytics Group. "By offering a simpler, more affordable and efficient way to collect and analyze massive amounts of investigative data, Accurint for Insurance Plus can help insurance professionals do their jobs more quickly and efficiently."
This data visualization helps insurance professionals triage the loss notifications or claims they receive for suspected abuse and fraud investigations, assess risk on claims, and verify and validate information submitted on auto, property, disability, life and health claims. Industry experts have noted that major fraud trends of 2006 included medical fraud rings, invasive health schemes, and auto rate evasion.
Unlike many other data visualization products, Accurint for Insurance Plus was developed for individual investigators rather than company analysts, and provides easy, economical access to both external and internal data sources.
"Although Accurint for Insurance Plus is sophisticated enough for a high-level investigator, it does not require extensive training," said Tankersley. "It's also an affordable solution and easy to use solution, which addresses the industry's need for access to advanced technology by Claims and Special Investigations personnel."
About LexisNexis
LexisNexis® (www.lexisnexis.com) is a leading global provider of business information solutions to a wide range of professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in more than 100 countries with 13,000 employees worldwide.
About LexisNexis Risk & Information Analytics Group
LexisNexis Risk & Information Analytics Group is a natural extension of the core competencies and technologies proven in the LexisNexis online products from the past 30 years. The LexisNexis Risk & Information Analytics Group builds on the LexisNexis tradition as a trusted provider and custodian of quality information, and leverages new cutting-edge technology, unique data and advanced scoring analytics to create total solutions to address client needs.
LexisNexis Risk & Information Analytics Group is specifically designed to serve the multi-billion dollar risk information industry which is comprised of professionals and organizations such as law enforcement, government agencies, financial services firms, collection agencies, insurance and health care providers, hiring managers, and other professionals.
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