P&C Insurance Fraud Solutions: Beyond Pay and Chase
Report Summary
P&C Insurance Fraud Solutions: Beyond Pay and Chase
Detecting fraud earlier in the insurance life cycle pips fraudsters to the post and improves the customer experience.
Boston, June 10, 2015 – North American insurance companies have historically stuck to pay-and-chase fraud management and, until recently, hadn’t aimed to prevent fraud. Some insurance companies have been using analytics to catch fraud before payment, but most are still focused on fighting fraud in the claims process. Can insurers head off the chase, not only preventing payouts on fraudulent claims but avoiding fraudulent or abusive policies in the first place?
This research provides an overview of fraud trends in the North American P&C insurance industry and identifies the types of fraud solutions that currently exist. It is based on interviews, briefings, and product demonstrations with 26 fraud solution vendors and profiles fraud solutions from BAE Systems Applied Intelligence, Computer Sciences Corporation, Enservio, Entrust Datacard, Experian, Fico, Friss, Hugin Expert A/S, IBM, IDology, Intellinx, iovation, LexisNexis Risk Solutions, NuData Security, Qlik, Safe Banking Systems, SAP, SAS, Social Intelligence Corporation, SynerScope, Tableau Software, Teradata, ThreatMetrix, TransUnion, Verisk, and Wynyard Group.
This 53-page Impact Report contains four figures and nine tables. Clients of Aite Group’s P&C Insurance service can download this report.