CARCO
Detect and prevent auto insurance fraud using AI-powered vehicle inspections
Target Audience
- Auto insurance carriers
- Insurance fraud investigators
- Law enforcement agencies
- Vehicle inspection sites
Hashtags
Overview
CARCO helps insurance companies fight fraud through AI-powered vehicle inspections and NMVTIS title history checks. It automates risk detection while maintaining a smooth customer experience, with over 54 million inspections processed. Their mobile AI technology identifies counterfeit VINs, flood-damaged vehicles, and suspicious patterns, helping insurers avoid $2.4B in fraudulent claims over 5 years.
Key Features
Mobile AI Inspections
AI-powered mobile app for fraud detection during vehicle inspections
NMVTIS Integration
Access national vehicle title database to spot salvage/flood cars
Central Data Repository
175M+ fraud data points used by law enforcement investigators
Predictive Analytics
Flags high-risk policy applicants before issuing coverage
Fraud Alert System
Real-time alerts about suspicious vehicles/VINs
Use Cases
Perform pre-insurance vehicle inspections
Verify vehicle damage claims via photo analysis
Identify stolen vehicles with counterfeit VINs
Process 54M+ inspection reports electronically
Provide fraud data for law enforcement cases
Pros & Cons
Pros
- Proven track record preventing $2.4B fraud over 5 years
- Mobile AI reduces inspection time to minutes
- Direct NMVTIS access for title history verification
- ROI of $41 fraud avoided per $1 invested
Cons
- Requires integration with carrier systems (complex setup)
Frequently Asked Questions
How quickly are inspection reports processed?
99% of inspections are processed electronically within 24 hours
Can CARCO help avoid buying flood-damaged vehicles?
Yes, CheckThatVIN.com provides title history with flood damage records
What ROI can insurers expect?
$41 in fraud avoided for every $1 spent on inspections
Reviews for CARCO
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