Network Viewer: The Future of Fraud Investigations
Mar 17, 2021
Meet Anna. She just got a promotion and now works in the Special Investigations Unit of an up-and-coming insurance carrier. She has been tasked with sifting through a pile of suspicious cases and feels like some may be linked. But she’s not sure yet.
While reading, she sees the name Matt Smith pop up a few times but doesn’t think anything of it. After all, Matt Smith is a pretty common name. Plus, these guys don’t even live in the same city. She weighs her options and decides not to tell her boss, reassuring herself by saying: “They believed in me enough to promote me, time to trust my gut”. Weeks later, after non-stop investigation, Anna finally gets through her pile and proudly calls her boss on Microsoft Teams (COVID cautious, of course). As she waits for her virtual pat on the back, she realizes that her boss’s demeanor isn’t what she was expecting. Angrily, her boss insists that Anna has missed a vital step in her work, leaving a network of fraudsters untouched and thousands of dollars richer thanks to her mistake.
Worried and on the verge of losing her job, Anna suggests a solution: The FRISS Network Viewer.
Anna describes her predicament to her boss by explaining the variations in location, contact information, and claims filed between the Matt Smiths. She candidly explains that all of this was simple human error, and that she knows how to fix it. With the Network Viewer, Anna could have searched that name and let the software do the rest. The FRISS Network Viewer automatically links all the data you have surrounding the name “Matt Smith”, and looks at that person’s past to find similarities in claims filed, witnesses present, locations, items involved and more.
It then creates a physical web of connected information – perhaps even more information than this Matt Smith was aware of himself. It would also have alerted Anna that these were, in fact, the same person. Seeing exponential progress in their company’s ability to fight fraud and stop bad guys before they’re able to infiltrate, Anna’s job was secured once again.
How to Find More Information:
The insurance industry is constantly innovating and so are we. The Network Viewer continuously evolves with every piece of information you add, and feedback makes it stronger by the minute. Human brainpower has its limits, but thankfully, this technology picks up right where we left off.
What we can do, is be proactive. We can start taking steps towards a safe digital transformation and use software that positions us ahead of fraudsters.