FORT WORTH, Texas -

Digital Recognition Network hired a new managing director for its risk solutions business on Wednesday. The company’s growth in the insurance market prompted DRN to bring on Eric Nesson, a 25-year sales and insurance industry professional.

Most recently, Nesson headed the BuyCrash sales efforts for Appriss. As vice president of business development he expanded the company’s sales channels and revenue for crash report data into insurance claims, SIU and subrogation.

In the 10 years he was with Carfax, Nesson helped to launch and then run the company’s banking and insurance division. And during this time, he earned the distinction of being one of five team members listed as patent holder for the “use of automotive historical data within the insurance underwriting and rating process.”

DRN chief executive officer Chris Metaxas said, “We are excited to bring Eric on board to head up our Risk Solutions sales efforts. DRN’s offers insurance companies new, unique data that helps them to detect fraud and assess risk throughout a policy’s lifecycle. As a result, our Risk Solutions business is rapidly growing. Eric’s experience in this industry makes him a tremendously valuable hire and enables us to further expand our presence in this growing market.”

DRN’s vehicle location data helps companies protect profits with actionable information that adds up to better risk management. DRN’s Garaging Score can detect fraud at underwriting, renewals and claims. Real-time and batch solutions are available.

DRN’s Event Links is an online investigative tool that can provide insight into insurance claims using DRN’s vehicle location data.

“Through vehicle searches, you can quickly identify key indicators of possible fraudulent activity such as commercial use and collusion,” the company said.

DRN has found that the garaging fraud costs to the Insurance industry are likely much higher than the industry estimates. As Americans report a growing tolerance for fraud, this “victimless crime” is on the rise.

Officials mentioned that managers can download DRN’s garaging fraud white paper and learn about “the surprising prevalence of fraud and how companies can use vehicle location data solutions to combat fraud.”