What is the true cost of compliance—in terms of dollars and distraction?
Compliance is complex, costly, constant, and compulsory: A full national build-out of auto liability insurance reporting (ALIR) costs up to $15 million.1 Where insurance and lending intersect, a lack of uniform identifiers connecting policy, loan, and claim numbers can impede communication among insurance, lending, claims, and tracking stakeholders.
Gain traction with strategic outsourcing
Enhance efficiency by outsourcing state DMV reporting, lienholder notices, and escrow invoices to an industry leader serving nearly half of the top 25 insurers.2
Automate compliance
Use advanced technology that detects reportable events, timelines, and formats to automatically notify DMVs and those with an insurable interest in the policy.
Optimize spend
Meet non-negotiable DMV reporting and lienholder notification requirements with Verisk’s out-of-the-box services. Spend less on efforts that don’t grow your top line.
Nationwide coverage
Navigate the intricate, ever-changing regulatory landscape with confidence, simultaneously mitigating the risk of state fines and policyholder penalties.
Policy monitoring
Harness policy data contributed to Coverage Verifier (CV) for once-and-done updates, fulfilling regulatory reporting requirements without cumbersome tracking.
Ecosystem connections
One submission enables insurers to manage DMV reporting, lienholder notices, and escrow invoices—and have access to a lender-facing portal.
Features and capabilities
CV Compliance suite comprises state-of-the-art decision engines and intelligent entry web portals to address the ecosystem compliance needs of insurers, lenders, claim servicers, and trackers.
Line-of-business solutions
For personal or commercial auto and property, CV contributors maintain a single data feed to support multiple lines of business for various mandatory reporting requirements.
Automate state DMV compliance with CV-ALIR
Cut costs, simplify maintenance, and ensure compliance across 38 jurisdictions. One data feed connects you to a proprietary decision engine with customer-specific requirements to enable distribution and acknowledgment of all DMV transactions in the format and frequency mandated. Get one-stop access to transaction history, error handling, and performance reports all in one solution.
Modernize lienholder and loss payee reports with CV-Exchange
Tame compliance logistics and labor-intensive communications at the intersection of lending and insurance with a robust infrastructure for accurate notice of policy changes to lienholders, loss payees, mortgagees, lessors, and others with an insurance interest in the policy. Identify and correct address issues; simplify return mail handling and escrow invoice distribution; and reduce payment delays.
Innovate coverage verification for lenders with CV-VaaS
Boost lender-insurer efficiency with CV-Verification as a Service. Streamline lienholder verification, a traditionally manual and inefficient process. Resolve disparate key identifiers (loan, policy, and claim numbers) with a unified data source.
Simplify policy monitoring
Use Verisk's configurable decision engine to flexibly accommodate regulatory requirements that vary state by state.
Related resources
Stay in the know about important industry trends and innovative solutions.
Webinar
Personal Auto Performance: 6 Strategies to Drive Efficiencies
Article
How to extract more value from auto insurance underwriting data
White paper
Innovation Strategies for Auto Insurance Underwriting
Brochure
Getting Off the Auto Liability Insurance Reporting Compliance Treadmill
Automobile liability insurance reporting is a compliance expenditure with little return for insurers. Those that don’t optimize management of this cost will miss a prime opportunity to realize savings and free up valuable resources.
Brochure
Turning Down the Noise on Your Notifications
Loss payee and mortgagee notifications, returned mail, and escrow billing invoices can consume resources, create unwanted noise, and multiply stress for insurers. Obsolete workflows can make it a struggle to achieve more orderly and efficient processes.
Brochure
Lienholder and Insurance Verification On Demand
Real-time data connects lien, policy, and claims information.
Do more with the Verisk ecosystem
Future-proof your business with a partner that puts you in the driver’s seat.
Modernized, data-forward quoting
Accelerate data-forward quoting and modernize buying journeys to keep more business in the pipeline and boost conversion rates.
Rating integrity at every stage
Harness data-driven analytics to detect fraud and take on premium leakage across the policy life cycle.
Loss history innovations
Achieve precise and optimized quotes by integrating claims data upfront, plus a new crash report enhancement for auto.
Driving history data
Rethink MVR expenses—one of the costliest aspects of auto insurance underwriting—with a transformative solution.
Coverage history and details
Gain a chronological, 360-degree view of risk, unlock predictive behavioral patterns, and discover multiple use cases.
Contact us to learn more
We are available Monday through Friday, 7 a.m. — 8 p.m. US Eastern Time:
Chat now
Note that password resets and user information are not available through Live Chat or Email. Instead, please call the main toll-free number below.
Global toll-free:
International Access code, then 800 48977489
When calling from the UK, please dial 00 800 4897 7489
1 Verisk client experience.
2 Verisk analysis, automobile liability insurance reporting outsourcing among top-25 personal auto insurers.