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

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