NORTHBROOK, Ill. (Nov. 14, 2017) – Allstate Insurance has a new advocate in the fight against insurance fraud. The insurer is now working with Carpe Data, a California-based company whose innovative use of data analytics will allow Allstate to apply highly predictive online data to claims processing.
Carpe Data’s fully automated data and predictive scoring products allow insurance carriers like Allstate to leverage valuable online data as a tool for risk assessment and decision-making across their book of business.
In one recent example, a third-party claimant said they could not work due to injuries from an accident. Carpe Data’s analysis of public social media accounts found a video of the same claimant rock climbing as well as photos of the person horseback riding during the time they had said they were too injured to work. This is just one case where claim fraud and exaggeration was found faster and provided Allstate the chance to prevent further fraud more effectively than ever before.
“Allstate is always searching for better ways to leverage the power of data to improve our claim process,” said Allstate’s [Chief Claims Officer Glenn Shapiro]. “Carpe Data will help support Allstate’s ongoing efforts to seamlessly integrate data to help our people make the best, most accurate and timely decisions.”
In another example, the new tools available helped Allstate verify a valid claim and reduce the cost of a claim investigation. An attorney for a third-party claimant stated an accident left their client paralyzed, but did not offer any medical support. A social media investigation, however, found pictures of the claimant in a wheelchair and confirmed the diagnosis. That allowed the insurer to expedite the claim to resolution.
In each scenario, Carpe Data was able to help Allstate more accurately predict risk and provide better service while protecting the company from potential fraud.
“Data and technology now play an increasingly important role in driving change across the insurance industry,” said Carpe Data’s CEO and Co-founder Max Drucker. “We look forward to seeing even more ways our collaboration with Allstate can evolve the sector as a whole.”
The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, protecting approximately 16 million households from life’s uncertainties through auto, home, life and other insurance offered through its Allstate, Esurance, Encompass and Answer Financial brand names. Allstate is widely known through the slogan “You’re In Good Hands With Allstate®.” The Allstate brand’s network of small businesses offers auto, home, life and retirement products and services to customers in the United States and Canada. In the 20 years since Allstate became a fully independent public company, The Allstate Foundation, Allstate, its employees and agency owners have donated more than $405 million to support local communities.