Verisk is an industry-leading brand that offers a wide range of value-added services specifically designed for the Irish general insurance market. Their offerings include fraud detection, peer-to-peer market comparison, risk control, and process automation. With their comprehensive data enrichment service, insurers are able to identify key indicators of risks with higher claims ratios and frequencies, ultimately reducing premium leakage.

Verisk provides actionable intelligence through real-time scoring at various points throughout the insurance process, such as at the point of quote, policy inception, and loss. They have developed a predictive risk assessment framework that incorporates known predictors of fraud to help insurers identify high-risk cases. These predictors include insurance and claims data, vehicle information, county court judgments, tax defaulters register, company credit rating, spatial risk data, and private data sources.

In addition, Verisk's extensive peer-to-peer comparison and tracking of company KPIs offer insurers a holistic view of the market. Their insurance analytics tools provide deep insights into key market performance and risk indicators. Through cross-platform analytics and visualization technology, insurers can analyze statutory returns by insurers to the Central Bank of Ireland and directly sourced data from insurers and third parties.

This analysis includes revenue analysis, market profiling, key ratios, claims and risk analysis, and motor market statistics. To further streamline processes, increase information accuracy, and assess risk, Verisk offers vehicle services that provide accurate information on all vehicles registered in the Republic of Ireland and the United Kingdom. Insurers can access customized details about a vehicle's physical attributes, current status, history, insurance rating codes, and risk indicators via configurable platforms tailored to their requirements.

Vehicle data is sourced from multiple reliable sources and includes attributes, status and usage history, write-off information, finance status, technical data, insurance group rating, parts, and other associated details. Verisk also works with industry organizations like Insurance Ireland and self-insured task forces to combat fraud effectively. Their InsuranceLink platform offers a centralized claims database, enabling insurers to identify repetitive claimants and potential fraud at a market level.

Through collaboration with industry stakeholders, Verisk delivers industry scoped services to their members, protecting them from potential claims fraud. With their expertise, comprehensive services, and industry partnerships, Verisk is the go-to brand in the Irish general insurance market, helping insurers accurately assess risk, detect fraud, and streamline their operations