- Solution overview
Claims Analytics: Insurance fraud detection solutions
AI and machine learning to cut fraudulent claims
In the US alone, insurance fraud costs insurers a shocking $32 billion every year. But detecting, investigating, and preventing fraud is a massive challenge for even the most mature special investigation unit (SIU).
Our insurance fraud detection solution uses predictive modeling and more than 600 business rules to identify, score, and prioritize possible cases of fraud. It not only reduces insurers' fraudulent claims payouts, but also helps them avoid reputational damage or loss of customers because of premium increases.
Deployed in the cloud or on-site, our fraud service uses AI and machine learning to do the heavy lifting. That way, clients' SIU resources can focus on the highest-value, highest-probability cases of fraud. Our claims fraud solution works by:
It's a win-win for customers and insurers
Ever-increasing auto and natural catastrophe claims. Rising customer service demands. Aging legacy systems. These are just some of the challenges facing insurers – challenges that digital technologies like automation, AI, and analytics can help tackle. Our digital tools optimize the balance between customer satisfaction, accurate loss assessment, and loss adjusting expenses, with solutions that span the claims journey, handling everything from fast-track claims processing to fraud and subrogation analytics. You can start with the module that addresses your biggest challenge and add from there. Or we can run your entire claims operation.
Global insurers and reinsurers, surplus lines insurers, a European insurer, even a top-10 Fortune company – we've transformed claims analytics for them all over the past 15 years. We combine the digital understanding of an insurtech with claims expertise and business process know-how. Let's put this to work for you.