Unmasking Fraud: Verisk Releases Fraud Discovery, connecting intelligence, analytics and investigations in one powerful fraud platform

Verisk introduces a unified, modular platform to help insurers tackle increasingly complex and interconnected fraud activity.

Rhea-AI Summary

Verisk (VRSK) has launched Verisk Fraud Discovery, a modular fraud prevention platform that unifies intelligence, advanced analytics, network analysis, digital media forensics and case management in a single solution.

The platform is designed for insurers to detect, investigate and disrupt complex, evolving fraud patterns across underwriting, claims and investigations. Early adopters include Hiscox, Allianz and law firm Weightmans.

Market Context

VRSK was down 2.52% before the announcement; the Sep 4 CargoNet fraud-related update also preceded a...

Analysis

VRSK was down 2.52% before the announcement; the Sep 4 CargoNet fraud-related update also preceded a 2.52% decline, providing relevant but separate context for this platform launch.

Key Figures

Fraudulent claims detected: £1.16bn Fraudulent claim cases: 98,400 cases

Fraudulent claims detected

£1.16bn

UK insurers in 2024

Fraudulent claim cases

98,400 cases

UK insurers in 2024

Historical Context

1 past event · Latest: Sep 04

1 event

1. Sep 04

   Fraud exposure report

   24h Move

   -2.5%

   CargoNet reported higher Labor Day cargo theft and growing identity-based fraud exposure.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

network analysis, digital media forensics, deepfakes, underwriting

4 terms

network analysis technical

"fraud intelligence, advanced analytics, network analysis, digital media forensics"

A method for mapping and measuring relationships and flows between entities—such as companies, investors, assets, transactions, or accounts—to reveal patterns, clusters, and key connectors that are not obvious from individual data points. Like a map that shows roads and traffic between towns, network analysis helps investors and analysts see how shocks, information, or risk might travel through markets, identify central players or concentrated links, and expose structural vulnerabilities or opportunities.

digital media forensics technical

"advanced analytics, network analysis, digital media forensics, and case management"

The discipline of examining digital content—such as photos, videos, audio files and related metadata—to determine whether the material is authentic, altered, or where and when it originated. Analysts use technical tools and methods like file‑format analysis, error-level detection, metadata inspection and signal processing to uncover manipulation, editing history and provenance. It matters to investors because verified or falsified digital evidence can affect a company’s regulatory compliance, legal exposure, reputational risk and the reliability of public disclosures, much like a forensic fingerprint can confirm or refute a physical scene.

deepfakes technical

"signs of manipulation, alteration and deepfakes"

Deepfakes are audio, video or image content created or altered by artificial intelligence to make people appear to say, do, or be somewhere they did not. They matter to investors because a convincing fake can trigger sudden market moves, enable fraud, manipulate sentiment, or harm a company’s reputation—similar to a counterfeit document or forged signature sparking real financial consequences and regulatory scrutiny.

underwriting technical

"across underwriting, claims and fraud teams"

Underwriting is the process where a financial institution agrees to buy and then resell new stocks or bonds to investors. It matters because it helps companies raise money quickly and smoothly, while the bank takes on the risk of selling those securities at the agreed price. Think of it like a booker guaranteeing to sell all tickets for a concert before opening the doors.

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The platform combines advanced detection, investigation and management capabilities into a single modular solution, helping insurers detect, investigate and disrupt fraud with tools tailored to their unique risk profiles.

LONDON, Sept. 08, 2026 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading strategic data analytics and technology partner to the global insurance industry, today announced Verisk Fraud Discovery, a fraud prevention platform that unifies fraud intelligence, advanced analytics, network analysis, digital media forensics, and case management into a single, scalable solution.

The launch comes at a time when insurance fraud is evolving rapidly, with economic pressures driving more opportunistic fraud and organised fraud networks increasingly exploiting technology and data gaps to evade detection. In 2024, UK insurers detected £1.16bn in fraudulent claims across 98,400 cases, an industry estimates a similar amount may go undetected. As fraud networks become more sophisticated, insurers are seeking connected intelligence, investigation and case management capabilities that help reveal patterns and relationships that might otherwise remain hidden.

"The insurance industry is facing increasingly complex fraud risks that often span multiple parties, claims and points in the insurance journey," said James Burge, Global Head of Fraud at Hiscox. "As fraud becomes more organised and interconnected, insurers need better ways to connect intelligence across underwriting, claims and investigations. Verisk's approach helps create greater visibility into potential fraud networks and further strengthens our evolving fraud prevention capabilities.”

Verisk's Fraud Discovery platform combines fraud intelligence, analytics, network analysis, digital media forensics and investigation workflows to help organisations:

• Uncover hidden relationships across people, organisations, policies and claims
• Detect opportunistic, organised and coordinated fraud activity
• Analyse images and documents for signs of manipulation, alteration and deepfakes
• Prioritise investigations and resources using risk insights and intelligence-led decisioning
• Streamline investigations and case management through a single workflow
• Improve fraud visibility and collaboration across underwriting, claims and fraud teams
• Transform data into actionable intelligence

Designed as a modular platform, organisations can adopt capabilities based on their fraud maturity and operational requirements, from early-stage fraud detection to advanced investigative workflows. This flexibility enables insurers to strengthen fraud prevention efforts while creating a foundation for more connected investigative operations over time.

Early adoption by leading insurers and legal partners

Hiscox, Allianz and law firm Weightmans are among the organisations adopting Verisk Fraud Discovery at launch, reflecting demand for more connected approaches to fraud investigation, intelligence sharing, and case management.

Mike Brown, head of fraud at Weightmans, said, “Fraud continues to undermine both the UK and global economy. Our collaboration with Verisk represents a major step forward in equipping us and our clients with advanced technology to better identify and respond to fraud.”

For decades, Verisk has helped insurers combat fraud through trusted industry data, advanced analytics and investigation technologies. Its anti-fraud solutions help organisations identify suspicious activity, uncover connections between people, claims and businesses, and focus investigative resources where they can have the greatest impact. Today, Verisk supports fraud detection and investigations across the insurance ecosystem and continues to develop connected intelligence solutions that help insurers respond to increasingly complex and organised fraud activity.

  ###

About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work. For more, visit Verisk.com and the Verisk Newsroom.

Mary Keller
339-832-7048
mary.keller@verisk.com

FAQ

What capabilities does Verisk Fraud Discovery provide to insurers?

Verisk Fraud Discovery provides tools to uncover hidden relationships across people, organisations, policies and claims; detect opportunistic, organised and coordinated fraud; analyse images and documents for manipulation and deepfakes; prioritise investigations using risk insights; streamline investigations and case management in a single workflow; improve fraud visibility and collaboration across underwriting, claims and fraud teams; and transform data into actionable intelligence.

How is the Fraud Discovery platform structured for different insurer needs?

The platform is designed as a modular solution, allowing organisations to adopt capabilities based on their fraud maturity and operational requirements, from early-stage fraud detection to advanced investigative workflows. This structure enables insurers to enhance fraud prevention while building a foundation for more connected investigative operations over time.

Who is using Verisk Fraud Discovery at launch?

Early adopters of Verisk Fraud Discovery include insurers Hiscox and Allianz, as well as law firm Weightmans, reflecting demand for more connected fraud investigation, intelligence sharing and case management.

What industry context does Verisk highlight for launching Fraud Discovery?

The launch comes as insurance fraud is described as evolving rapidly, with economic pressures driving more opportunistic fraud and organised fraud networks exploiting technology and data gaps. In 2024, UK insurers detected £1.16 billion in fraudulent claims across 98,400 cases, and the industry estimates that a similar amount may go undetected.