1 New Mobile App Virtual Inspector revolutionizes vehicle inspections
2 Vehicle inspections don t have to be timeconsuming and costly. New technologies and analytics are making them easy and inexpensive. Underwriters and agents can now verify garage location, vehicle condition, mileage, and an abundance of additional details without ever leaving the office. Our new RISK:check Virtual Inspector mobile application helps you collect information that adds greater pricing accuracy, streamlines your underwriting processes, and identifies potential fraud. The app also helps you maintain premium integrity from policy issuance to renewal. And you can brand it under your own label. Real-time data means improved accuracy Consumers can use the Virtual Inspector app on their smartphones to conduct physical inspections* and submit information. You ll receive real-time data such as: odometer reading garage location using GPS coordinates VIN vehicle photos photos of vehicle registration and bill of sale To get an even more accurate view of the applicant, we can also integrate data from our A-PLUS TM Loss History Reports and Coverage Verifier SM databases with the information the app generates. Virtual Inspector enhances our fraud detection services RISK:check Virtual Inspector enhances the results of our other RISK:check services. For example, if RISK:check Point of Sale identifies a potential issue, an applicant can use the Virtual Inspector app to document and clarify the situation quickly. If the applicant can t resolve the issue, you may want to evaluate the situation further for potential fraud. * Inspections conducted using the mobile application can t satisfy regulatory state inspection requirements.
3 Communicate with consumers their way Consumers are increasingly comfortable providing information and completing transactions using their smartphones. Millenial consumers expect such functionality to be available. Despite that expectation and increasing reliance on mobile devices to conduct business, few insurers have taken advantage of the smartphone to improve quote, application, and policy maintenance processes. Companies offering a fast and easy mobile experience can expect to win and retain more business than those that don t. How it works A consumer or insurance agent downloads the Virtual Inspector application from the Apple or Google Play app store, registers and logs in, and conducts a step-by-step virtual inspection. Verisk receives the information and identifies issues with vehicle registration, coverage, loss history, and more. We apply our proprietary analytics and deliver the results, photos, and supplementary documents seamlessly into your policy management system. Try the app demo on your smartphone You can download the free Virtual Inspector demo a simplified version of our robust technology using an Apple or Android smartphone. Just use the vehicle identification number (VIN) bar code reader to submit your car s VIN and generate a PDF report. 77 percent of the world s population 1 own mobile devices. Roughly 93 percent of young U.S. consumers (Millennials) used a mobile phone in 2012; about 63 percent of them used smartphones. 2 Our studies 3 show that, in 17 percent of personal auto applications, insurers can t verify the garaging location. Capturing that information could reduce fraud and premium leakage by up to $1.75 billion. Download RISK:check Virtual Inspector for your mobile device Search for Verisk inspector. 1. ABI Research, Mobile Commerce and Virtual Goods Mobile Online Shopping, Software-Based Proximity Payments, Quality Planning Corporation analysis, 2012
4 Customize capabilities and reporting The advanced technology and open architecture of our new mobile platform enable us to customize both the app and the reports it generates. We can design capabilities, analytics, and output to support your unique business, markets, and workflow. We can even integrate information from our other databases, such as A-PLUS TM and Coverage Verifier SM. Report to be updated Results in your inbox You can map results right into your policy management system. Or to gain competitive advantage right away, we can send reports directly to your . Report details A real-time photograph authenticates the odometer reading. GPS coordinates determine the distance between the registration address and the vehicle location at the time of the photo. The Mail Drop Alert tells you if an address in an underwriting query matches a mail drop location.
5 Collaborate to Innovate We ll help you innovate Using the Virtual Inspector app to streamline your auto workflow may inspire additional ways mobile technology and analytics can address your business needs. Together we can look at how Verisk can help you innovate to meet those needs by developing specific Virtual Inspector enhancements for both auto and property lines. For example: Streamline your claims process by enabling consumers to report claims, document damage, and submit estimates for auto and property. Understand your risk related to property interiors and exteriors by verifying property details, such as electrical boxes, furnaces, high-end upgrades, and overall property condition. Create electronic records of home contents by giving policyholders an easy way to provide an inventory. For more information on RISK:check Virtual Inspector: Contact Verisk Customer Support at , send to or visit Insurance Services Office, Inc., ISO, the ISO logo, Verisk Analytics, the Verisk Analytics logo, and RISK:check are registered trademarks and Verisk, Verisk Insurance Solutions, and the Verisk Insurance Solutions logo are trademarks of Insurance Services Office, Inc. A-PLUS is a trademark and Coverage Verifier is a service mark of ISO Services, Inc. AIR Worldwide is a registered trademark of AIR Worldwide Corporation. Xactware is a registered trademark of Xactware Solutions, Inc. All other product or corporate names are trademarks or registered trademarks of their respective companies. VISU001 (3/14) z14021
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