Using advanced analytics to identify fraud in property and casualty insurance

With advancements in the field of computing, analytics is now playing a greater role in helping insurance companies identify fraudulent claims; in some cases identifying areas of concern even before the fraud occurs.

The role data plays in today's market varies for each insurer, as each weighs the cost of improving information systems against losses caused by fraud. Using advanced analytics, it is possible to implement efficient fraud detection strategies.

This paper is dedicated to demonstrate how and why advanced analytics can assist in identifying and decreasing the number of fraudulent claims.

Topics covered:
• Advanced analytics in fraud detection.
• Analytics framework for detecting fraudulent claims.
• Fast track claims handling during FNOL.