CARCO stands at the forefront of fraud and risk prevention technology, utilizing advanced Mobile AI platforms to safeguard insurance carriers and consumers alike. This innovative approach is designed to identify and mitigate risk events and fraudulent activities, which are critical in maintaining the integrity and financial health of companies in today's competitive landscape.
At the heart of CARCO's solution is its Mobile AI Fraud Prevention application, which offers dual-functionality for both designated inspection site locations and self-inspections. This application is powered by integrated AI and fraud alert validation technology, streamlining and automating the inspection process. Key features include a back-office solution that easily integrates into mobile platforms, cost containment, fraud detection and deterrence, and an integrated processing system driven by a fraud analytics engine. Moreover, it ensures a positive customer experience, with inspections taking just minutes to perform.
CARCO's commitment to fraud prevention extends beyond its mobile application. The company also incorporates NMVTIS, the premier publicly available system in the U.S., into its solutions. NMVTIS requires all insurance carriers, auto recyclers, junk and salvage yards, and states to report vehicle title data, enhancing the system's effectiveness in detecting and deterring fraud.
With over 40 years of experience, CARCO has established itself as a trusted partner for more than 170 insurance carriers, completing over 54 million inspections through a network of 4,500+ sites across 17 states. The company's advanced technology and comprehensive approach to fraud prevention have not only streamlined the inspection process but also significantly contributed to the reduction of fraudulent claims, saving the insurance industry billions of dollars.
CARCO's innovative use of Mobile AI technology represents a holistic approach to identifying, detecting, and reducing fraud, making it an indispensable tool for insurance carriers looking to protect their clients and bottom lines in an increasingly complex and challenging environment.
