Emerging technologies are poised to help government agencies significantly improve collections and reduce improper payments. Why? Because the use of both big data and artificial intelligence technologies make it possible to examine each and every account or payment for accuracy, not just outliers or randomized samples. The net result: less fraud, fewer mistakes, and a fairer system for everyone. We’re here to make that vision a reality.
Why we’re here
What we do
Verus provides government agencies with state-of-the-art auditing and recovery solutions. These solutions are typically turn-key, contingency-based, and require the analysis of massive amounts of data. To build these solutions, we’ve developed three core capabilities:
Our state-of-the-art big data technology platform is highly secure, fully redundant, and capable of analyzing billions of accounts and transactions.
Our investigators are highly skilled at identifying, quantifying, and verifying legal, statutory and contractual obligations owed to our state clients and their citizens.
Our attorneys have a wide range of experience and a proven track record of navigating complex legal issues. To date they have helped ensure the recovery of billions dollars of insurance policy proceeds across the country.
Where we’re going
At Verus, we got our start by auditing life insurers for unclaimed property. It was a brazen mission for a new company, but within a few years of our launch, we had identified and recovered billions of dollars of previously unpaid death benefits—leading to changes in how the life insurance industry identifies and pays death benefits on behalf of its insureds.
Today, we serve 48 unclaimed property departments that cover more than 97% of the U.S. population. On their behalf, we’re conducting well over 100 multi-state unclaimed property audits in the insurance, securities, banking, and retirement industries, among others. And we’re just getting started.
Our mission is to provide the best auditing and recovery solutions possible, wherever we can have the most impact. To that end, Verus product teams are hard at work on expanding our scope in a variety of sectors, including new solutions for ensuring the accurate collection of sales & use taxes and payment of benefits & entitlements.