Survey Finds Carriers Turning to Analytics to Fight Growth in Fraud

By Claims Journal

Insurers believe that fraud in on the rise, and they are increasingly turning to advanced analytics to fight it, according to the results of a survey released by the Coalition Against Insurance Fraud.

Some key notes from The Coalition are how automated red flags and business rules remain popular, but are fading as predictive analysis, exception reporting, text mining, link analysis and AI gain traction. Insurers are also expanding their range of anti-fraud tools.

The survey also showed that the use of unstructured data is increasing as insurers adopt newer tools to cull for evidence; also, more insurers favor quality of case referrals their systems generate over quantity.

Read more here.

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