Claims Business: Verisk and Vexcel, GEICO and CCC, McLarens

By Claims Journal staff | October 6, 2022
Verisk, Vexcel Partner to Collect Aerial Images After Ian

Verisk said it is working with Vexcel Data Program and the Geospatial Insurance Consortium to assess property damage after Hurricane Ian.

Verisk said in a press release that Vexcel and its partner GIC are deploying multiple fixed-wing aircraft with cameras that take high-resolution images. Those will be integrated into Verisk’s Respond MAP platform, which uses artificial intelligence, geospatial technology and property and claims data to analyze damage, data analytics firm said.

The technology allows insurers to identify properties, assess damage and manage on-site inspections, Verisk said.

A blog post on GIC’s website explains that the “gray sky” images taken after a storm are compared to “blue sky” images from a database that showed the same properties before the catastrophe. The data allows insurers to learn which policies in force are impacted, the level of damage and whether a remote assessment can be used to save time and resources.

GEICO Contracts with CCC for Fraud Detection

CCC Intelligent Solutions said GEICO is the first auto insurer to deploys new Smart Red Flag Detection product to uncover claims discrepancies and duplicate filings for the same damage.

Troy Penry, vice president of claims for GEICO, said the product and its “cross carrier analysis” capability will detect suspicious activity, improve assessment accuracy, and reduce fraudulent payouts.

“The technology paves the way for better policyholder experiences and straight-through claims processing,” Penry said.

CCC said its product uncovers multiple filings for the same damage, duplicate vehicle identification numbers, odometer disparities and garaging errors early on. The product creates a Smart Red Flag score that can be adjusted based on parameters assigned by the carrier.

McLarens Rebrands Claims Shop in Canada

McLarens, the international claims administrator based in Atlanta, has rebranded MGB Claims as McLarens Canada.

McLarens said it acquired MGB in August 2021 and added it to its North America claims and loss adjusting division. The acquisition added complex loss management expertise and technical skills to McLarens’ existing aviation and natural resources operations in Canada, the company said.

The new McLarens division is headquartered in Toronto and has additional employees in Vancouver, McLarens said. The team now consists of 30 experienced adjusters and support personnel.

“Given the strength of MGB’s reputation and brand identity, it was important for this to be a carefully planned process, but we feel that now is the right time for the business to adopt the McLarens brand,” stated McLarens Chief Executive Officer Gary Brown. “Globally, McLarens has the larger presence, and we believe this puts the business in the best position possible for continued growth and success.”

Was this article valuable?

Here are more articles you may enjoy.