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CARCO Releases NSA Protect Fraud-Fighting Solution for the Non-Standard Auto Market
Pre-insurance fraud prevention inspection services provider CARCO announces new NSA Protect product to support fraud prevention for the non-standard auto (NSA) market.
Holtsville, NY - CARCO, a leading provider of mobile artificial intelligence (AI) technology for pre-insurance fraud prevention inspection services and risk solutions, announces the release of its new NSA Protect product, developed to help the non-standard auto (NSA) market fight and prevent fraud. CARCO’s NSA Protect solution provides security level protection against fraud through the integration of mobile artificial intelligence (AI) fraud detection and centralized data for high-risk prospect profiling. NSA Protect arms the insurance industry with a predictive and preemptive tool for deterring fraudulent claims.
As the insurance industry accelerates its growth plans into the high-risk policyholder market, CARCO’s NSA Protect product can help facilitate growth while focusing on lower fraud losses and longer-term competitive premium stability.
CARCO’s introduction of NSA Protect addresses the current post-COVID pandemic landscape, which is prime for increased fraud as drivers return with increased vehicle purchases and underwriting required for the industry to price premiums. A small increase in driving activities from a small cohort with less disciplined tendencies could cause a claims frequency surge, according to projections from McKinsey & Company.
“Our NSA Protect fraud detection and deterrence holistic product is a timely industry fraud-fighting strategy component, and consistent with CARCO’s 40-plus years providing fraud-fighting technology platforms,” said Will Pagan, Senior Vice President and General Manager at CARCO. “With mobile technology from 2012 and mobile AI since 2019, converged with centralized fraud risk profiling data and subject matter experts, CARCO has provided over $2.4 billion in fraudulent claim avoidance over 5 years.”
NSA Protect, CARCO’s new fraud-fighting holistic solution for the non-standard auto market, is designed to address the increased risk in the current post-pandemic landscape. For more information about NSA Protect and other CARCO solutions, visit www.carcogroup.com.
About CARCO
As the leading provider of holistic fraud detection and deterrence services for the personal auto line and high-risk non-standard auto markets, CARCO has helped reduce fraud since 1977. CARCO mitigates risk through mobile AI technology platforms integrated with centralized fraud data predictive and profiling functionality, converged with business operational excellence execution by subject matter expertise. CARCO protects carriers and insureds through a suite of fraud avoidance strategies and tools used by the insurance industry, law enforcement, state departments of financial services, and legislative bodies. For additional information, please visit www.carcogroup.com.