Customers Using IVANS to Help Reduce Number of Uninsured Motorists and Insurance Fraud

STAMFORD, Conn.--IVANS, the leading provider of corporate connectivity solutions and services, announced today that insurance carriers are now installing IVANS Auto Liability Insurance Reporting Online Verification (OLV) application onto their systems to comply with new state mandates aimed at reducing insurance fraud and the number of uninsured motorists. In July, Wyoming became the first state to require a Financial Responsibility Verification Program based upon real-time, online insurance verification through the use of web services. Oklahoma will require this reporting starting December 31, 2008, and Florida, New Mexico, Texas and Utah are piloting similar programs in the coming months.

Once IVANS OLV application is installed onto an insurance carrier’s system, law enforcement officials are able to query the carrier’s system during a traffic stop and immediately verify whether a person has car insurance. Both Oklahoma and Wyoming hope to drive down the number of uninsured motorists among their 3.3 million and 800,000 registered vehicles, respectively, using this real-time verification method. Generally, carriers must comply with auto liability reporting requirements or face large fines, loss of privileges for writing business in a state, or potentially embarrassing customer service issues with drivers who receive tickets because law enforcement is unable to verify their insurance coverage.

Online Verification is endorsed by the Insurance Industry Committee on Motor Vehicle Administration (IICMVA) as a superior alternative to batch reporting because it eliminates error corrections, saving time and money. As part of IVANS Auto Liability Insurance Reporting solution, this new OLV web service enables precise insurance verification in real-time for existing vehicle coverage via a single file interface. The solution includes built-in logic to support complex insurance business rules and connects directly to a database hosted by the carrier, providing carriers with a fast track implementation that alleviates resource constraints while allowing them to maintain full control of the data.

Maggie O’Hara, group vice president of marketing and customer operations, IVANS, Inc., said, "We understand the importance that states like Wyoming place on reducing the number of uninsured motorists and related fraud. We have been working closely with state officials on implementing online verification requirements surrounding this mandate. And, by enhancing our ALIR solution to include innovative technology such as the OLV web service, we make it easier for insurance carriers to comply with this legislation and support the results it is designed to achieve.”

A leader in auto liability insurance reporting, IVANS helps insurance companies transform and deliver data to comply with the proper state reporting requirements. The company’s ALIR solution addresses all required, reportable events and includes ongoing support for ensuring compliance as legislation changes over time. Insurance carriers are presently using IVANS ALIR solution in every state that mandates auto liability insurance reporting.