CARCO

CARCO: Advanced Fraud and Risk Prevention Technology for the Insurance Industry

CARCO is a technology company focused on providing fraud and risk prevention solutions for insurance carriers and consumers. Leveraging advanced Mobile AI technology, CARCO helps identify and prevent risk events and fraudulent activities that can impact a company's bottom line in competitive and challenging environments.

What is CARCO?

CARCO provides advanced Mobile AI technology platforms engineered to identify and prevent risk events and fraudulent activities that can expose companies and their bottom lines in highly competitive and challenging environments.

How does CARCO work?

CARCO's Mobile AI Fraud Prevention application is designed with dual-functionality for utilization as a designated inspection site location or self-inspection. The integrated AI and fraud alert validation technology streamlines and automates the inspection process, providing:

• A back-office solution
• Easy integration into mobile platforms
• Cost containment
• Fraud detection and deterrence
• Integrated processing system powered by a fraud analytics engine
• A positive customer experience
• Inspections performed in minutes

CARCO's risk and fraud detection and deterrence solutions also include NMVTIS (National Motor Vehicle Title Information System) – the premier publicly available system in the U.S. that requires all insurance carriers, auto recyclers, junk and salvage yards, and states to report vehicle title data.

Key Features and Benefits:

• Advanced Mobile AI Technology: CARCO's mobile AI application streamlines and automates the inspection process, making it faster and more efficient.
• Fraud Detection and Deterrence: The platform is designed to identify and prevent fraudulent activities, helping insurance carriers avoid costly claims.
• NMVTIS Integration: CARCO's solutions include integration with NMVTIS, providing access to critical vehicle title data.
• Comprehensive Inspection Process: CARCO offers a holistic approach to identify, detect, and reduce fraud.
• Predictive & Prescriptive Risk Profiling Analytics: CARCO helps the insurance industry flag high-risk prospect policyholders to submit through our Mobile AI fraud preventive inspection application.
• High ROI: CARCO's fraud detection and deterrence services provide the insurance industry an ROI with every $1 invested in inspections results in ~$41 in potential fraud avoidance.

Why choose CARCO?

• Experience: CARCO has been performing fraud preventive pre-insurance vehicle photo inspections since 1977, making them industry experts with over 54 million inspections completed.
• Extensive Network: CARCO has a 4,500+ inspection site network in regulated and non-regulated states.
• Proven Results: CARCO has avoided billions of dollars in fraudulent damage claims for the insurance industry.

Who is CARCO for?

CARCO is designed for insurance carriers, underwriters, claim professionals, and policyholders.

Use Cases:

• Pre-Insurance Inspections: CARCO provides vehicle pre-insurance inspection services, helping insurance carriers assess risk and prevent fraud.
• Fraud Investigation: CARCO's central data repository is used by Insurer Special Investigative Units & Law Enforcement to investigate vehicle fraud.

Real-World Impact:

• CARCO's fraud tip led to the dismantling of a $15 Million auto fraud ring.
• CARCO helped the NY Attorney General identify and prosecute a fraud ring – “Operation Decoy Delivery”.
• CARCO central data repository contributed in NY Law Enforcement break up a ~$300 million luxury car theft ring.

By leveraging its technology, business practices and Fraud Prevention Analyst team, CARCO can identify stolen vehicles with counterfeit VIN’s for NICB and Law Enforcement to prosecute.

CARCO is a valuable resource for insurance carriers looking to protect themselves from fraud and reduce risk. Their advanced technology, extensive network, and proven results make them a leader in the industry.

Best way to prevent insurance fraud?

CARCO provides businesses with the tools necessary to protect their clients from a variety of risk events and fraudulent activities that can expose companies and their bottom lines.