EpicVAULT™ FAQs
ClaimsVault™
What is ClaimsVault™?
ClaimsVault™ is a secure, cloud-based platform that enables insurers to share and access claims data across the insurance industry to improve fraud detection, risk assessment, and operational efficiency.
Who can use ClaimsVault™?
- Insurers (for claims verification & fraud detection)
- Brokers & Agents (for risk assessment)
- Government Agencies & Law Enforcement (for fraud investigations)
- Financial Institutions (for loan/lease verification)
Is ClaimsVault™ a cloud-based system?
Yes, it is a scalable cloud solution, allowing real-time access to claims data from anywhere.
How does ClaimsVault™ improve the insurance industry?
By centralizing claims data, it helps detect fraud, reduce misrepresentation, and enhance risk assessment accuracy.
What type of data is stored in ClaimsVault™?
- Claims history (accidents, payouts, fraud flags)
- Vehicle/property details (VIN, theft records)
- Industry-wide fraud trends
How secure is ClaimsVault™?
It uses advanced encryption, role-based access controls, and audit logs to ensure only authorized users view sensitive data.
Can third parties (e.g., police) access ClaimsVault™?
Yes, law enforcement can request access to aid in stolen vehicle recovery and fraud investigations.
How does ClaimsVault™ detect fraud?
- Flags repeat claimants or suspicious patterns
- Identifies fraud networks via cross-insurer data
- Alerts on misrepresentation (e.g., fake accidents)
Can it prevent "phantom" claims?
Yes, by verifying claims against historical data and industry trends.
How does it improve risk assessment?
Insurers gain full claims history on clients/assets, avoiding underpricing risky policies.
What kind of reports does ClaimsVault™ generate?
- Industry-wide fraud statistics
- Claims frequency/severity trends
- Custom reports for regulatory compliance
How long does implementation take?
1 month from contract signing to go-live.
Is there a mobile or web portal?
Yes, a secure web portal provides 24/7 access.
Do users need training?
The interface is user-friendly, but onboarding support is typically provided.
Can competitors share data safely?
Yes, ClaimsVault™ anonymizes aggregated data for industry reports while protecting proprietary details.
How does it help law enforcement?
Provides real-time theft/fraud data to recover stolen assets and prosecute fraud rings.
Can banks use ClaimsVault™ for auto loans?
Yes, to verify insurance status and claims history of collateral.
How does ClaimsVault™ reduce costs?
- Lowers fraudulent claims payouts
- Streamlines claims processing
- Improves underwriting accuracy
Still have a question?
Get in touch with us for more information or detailed answers to your inquiries, whether Sales, Maintenance or Support related.