May 2019 – Tackling fraud isn’t new for insurers; most have been using SIU organizations for decades. However, property/casualty insurers are now digitizing claims processes, creating challenges for traditional fraud detection, which relies on human assessment. Fraud analytics provide digital capabilities to identify fraud in real time, at FNOL and during the claim life cycle.
This brief provides an overview of fraud in the insurance industry and an overview of claims fraud analytics technology. It also profiles providers in this space, including BAE Systems NetReveal Property & Casualty Insurance Fraud, DXC Fraud Analytics Suite, FRISS, Mody Data Solutions, SAS Detection and Investigation for Insurance, Shift Technology, and Verisk ISO Claim Solutions.
About the Author
Eric Weisburg
Eric Weisburg is a Senior Principal at Datos Insights. His expertise lies in insurance technology, data, and analytics, and distribution, underwriting, and finance. Eric has over 20 years of LAB and P/C insurance industry, consulting, and IT experience. Prior to Datos Insights, Eric served as Managing Vice President of Strategic Initiatives at Tower Group Companies and VP at AIG, where he...
Other Authors
Deb Zawisza
Deb Zawisza is a Senior Principal at Datos Insights. She has expertise in insurance technology leadership and transformation with over 30 years of experience. Prior to joining the firm, Deb was SVP/CIO for Claims/Loss Control at Travelers Insurance, leading core system modernization, expansion of data and analytic capabilities, Agile transformation, and digital initiatives related to property/casualty claims across all lines...