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Salvage Vehicle Detection

There is an active, quasi-legal trade in vehicles that are or should should be branded as ‘salvage’. Such vehicles are typically not eligible for comp & collision insurance but may be eligible for liability and other coverages. Sellers can get a higher resale price if that information is not disclosed, and buyers can get better insurance coverage (and potential claims payouts) if insurers are not informed of the salvage condition of the vehicle.

Such vehicles are therefore often manipulated to avoid such detection. They may be moved to states where registration information is not shared or updates are infrequent/slow. There are also organized efforts to swap or modify VIN data and markings to hide salvage status indefinitely. Such vehicles may constitute ½-2% of a typical carrier’s book and can result in significant fraudulent claims if undetected.

idFusion service can be configured to tackle this problem in several ways, such as:

idFusion idFusion receives carrier-supplied application and third party data via one or more web service calls during active transactions. idFusion applies advanced entity resolution solutions to resolve identity, address and other possible data conflicts, and then fuses new information with carrier history to drive a resolved customer identity and data set for further analysis.
idGetData idGetData may be invoked to capture additional state registration records and vehicle repair histories if current registration dates and records do not match vehicle age or history, where sales/transfer records are incomplete or inconsistent, or where listed driver(s) have prior licenses and claims in other states revealed in pre-fill discovery or other indicators.
idMobile idMobile may be invoked to capture VIN images from the VIN plate, engine block and other locations where manufacturers may have affixed the VIN to a vehicle.
idResolve idResolve may be invoked to inform the applicant or agent of the issue, request more information and capture an eSign attest to the vehicle’s history and status.

VALUE IMPACT

• ½ to 2% of carrier apps contain salvage vehicles