Insurance Fraud

[On Demand Webinar] – How To Fight Insurance Fraud Using Neural Networks On Claim Statements

Data Scientists Daan & Gian reveal how you can fight insurance fraud through artificial intelligence in advanced analytics and explainable models.

[On Demand Webinar] Building a Fraud Fighting Organization. A Fireside Chat with Donald Light & Jim Murphy.

3 Reasons Why POCs Are Holding You Back and How to Change That

Proof of Concepts are not as reliable as we once thought. Niek Verdoes, our Product Manager, outlines the three major problems with POCs, and offers an alternative method for choosing the best solution.

5 Reasons Why Insurers Should Start With Automated Fraud Detection

Across the globe, insurers are modernizing core systems, starting online channels and automating fraud prevention tools. Organizations need to orchestrate this properly.

5 Trends in Fighting Insurance Fraud in 2019

The Insurance Fraud Survey 2019 shows the current market state regarding insurance fraud. Here are the 5 top take-aways.

7 Key Industry Perspectives In The Fight Against Insurance Fraud

Digital transformations and frictionless fraud fighting are on our minds in 2021. Check out an overview of key insurance industry insights.

A FRISS View On The Series B Led By AKKR

The Series B will be used to fuel rapid market expansion, product innovation and the support of safe digital transformation throughout the full policy lifecycle.

A Win-Win: Improving Loss Control and Customer Experience

Education, communication and modern technology all pair well together. When used the right way, insurers can improve their bottom line and win their customers’ loyalty.

Being there when you can’t be there

When traditional people roles become impossible, technology steps up to the plate.

Claims Modernization – Where Moving from Legacy Matters Most

For insurers of all sizes, market conditions necessitate legacy modernization.

Core System Implementation and Fraud Fighting go Hand in Hand

Changing a core system is a fundamental process, but this does not have to lead to postponement of the introduction of automated risk analysis.

Creating Moments Of Magic by Instantly Settling Legitimate Claims

What better experience then taking the mobile, entering the damage on a 3-D Model, make pictures, send them to the insurer and get a “yes we’ll settle”. That is ClaimLine.

Digital Insurance #1: How to Improve Claims Efficiency

''It was taking us 45 minutes to attend a claim before, manually. And now, with a tablet, it only takes us 15 minutes to do it''. Welcome to this episode of FRISS Lab On Tour. We have a special item for you, because we flew to Latin America to see how insurers deal with fraud and industry trends over there. Check out part 1 now!

Embedded Technology in Cars is Pressuring the Loss Ratio of Motor Insurers

The loss ratio of motor insurers is rising due to the amount of embedded technology in modern cars. Car insurers now reduce costs by investing in STP.

Exchange of Claims Information between Insurers in Europe

Verifying claim legitimacy is one of the most essential tasks of an insurance company. Companies in Europe work together to prevent fraud, despite strict regulations.

Fighting Fraud in the Information Age

Nicolas Michellod (Celent): "While the enemy of insurance fraud is not new, the weapons and battle ground are continuously changing."

Fighting Insurance Fraud: Appetite For Destruction?

It’s important for insurance carriers to link precision (or hit rate) to their risk appetite. If they don’t, it will be self-destructive.

Fraud Prevention: The Insurtech Insider Podcast ft. George Herber

In this 11FS podcast insurtech experts give you the very latest in fraud prevention in insurance.

Fraud: the last great unreduced business cost

Fraud is a challenging problem. Its economic effects are significant; less financially stable and profitable companies, worse public services, diminished levels of disposable income for all of us, charities deprived of resources needed for charitable purposes. In every sector of every country, fraud has a pernicious impact on the quality of life.

FRAUDtalks 2019: Envisioning The Future With AI – by Gian Luigi Chiesa

"As data becomes bigger and models become more complex, the gap between humans and machines becomes wider. Explainable AI aims to close this gap."

FRAUDtalks 2019: Hacking Into the Internet-of-Things – by Ken Munro

"My point for all of you is insurance tech, smart tech, is great. It offers efficiencies. It's fantastic. We can reduce fraud."

High-tech Motor Claims Fraud Calls for Advanced AI Solutions

Fraud has gone high tech, with the potential damage that hackers using the internet is becoming a real danger. Advanced AI software can pick this up.

Holistic Fraud Management Must Include the Entire Policy Life Cycle

In this blog, featuring Gartner's Top Practices in Fraud Prevention and Management for Digital Insurance for 2021, discover 5 ways to innovate your processes while keeping fraud far from your book of business.

Honest Insurance for Honest People

FRISS was created when we saw many insurers had not developed their fight against fraud and that ultimately the customer paid the price for this.

How Adding Authorized Media To The Claims Process Prevents Fraud And Saves Costs

By using authorized media, insurers can use their role to increase fraud awareness among claims handlers while expanding their capabilities.

How Automated Fraud Analytics Helps Carriers Reduce Their Loss Ratio

Hermann Giron (El Roble) advocates the use of technology such as FRISS in order to in have a profitable SOAT program in insurance companies.

How Drones Can Help Determine Value, Damage And Detect Fraud.

A drone can quickly collect a large amount of footage of the affected property and its surroundings. In addition, photos can also be taken of places that are dangerous and difficult to access. These insights help the experts to quickly arrive at the most accurate cost tag.

How Image Analysis Destroyed the Perfect Scam

Hi there, my name is Ed, and I’m going to tell you about the time I almost scammed an insurance company for a brand-new Porsche....

How Munich Re Creates Added Value Through Automated Fraud Detection

As the leading global reinsurer worldwide, we appreciate that our clients expect excellence from Munich Re. That is why we need to offer top class solutions in order to remain relevant to our customers.

How Nudges Reduce Insurance Fraud: Small Changes Make a Difference

Evie Monnington-Taylor is a Senior Advisor at the Behavioural Insights Team (BIT), working on international programs for the ‘nudge unit’. This blog is based on her talk at FRAUDtalks Conference 2017, where she advocated the effect of small changes to stimulate honest behavior.

How to Align your Organization When Starting an Anti-Fraud Project for Insurance?

You acknowledged that you (and fraudsters) are working in a digital insurance working space, which requires fraud fighting technology accordingly. Now what?

How To Stop Ghost Brokers In Their Tracks

Could you fall victim to ghost brokers? How could you recognize it? And if so, what should you do about it? Find our in our latest blog article!

Identity Fraud – Automated Detection Systems Protect Both Insurers and Citizens

With a well-organised automated risk analysis and fraud detection, the chances of fraudsters getting into the portfolio become considerably smaller.

ILC: Shaping the Future of Claims

ILC did a fantastic job in showing that shaping the future is done today. The way we take care of motor claims will be different in due time.

Improving Customer Experience with Predictive Risk Assessment and Fraud Checks

97% of your customers are “good” customers. By using the right technology, customer experience and loyalty improve significantly.

Insurance Fraud Cases Doubled: Insurers are More Effective in Fraud Detection

Insurers are now better at detecting who is committing fraud, when they are committing fraud and what kind of insurance is involve. Insurers are getting smarter and more effective in detecting fraud.

Insurance Fraud in Times of Crisis

Insurers must be prepared for the inevitable increase in fraud that occurs during times of crisis.

Keeping Predictive Fraud Models Accurate In Exceptional Times

COVID-19 did not break our predictive models. As the Head of Data Science for FRISS it makes me proud to remain in control during these exceptional times.

Leveraging AI and Data to Improve Underwriting and Claims Capabilities

Successful insurance companies will think longer term and focus back on the essence of insurance: covering risks for the customer.

Network Viewer: The Future of Fraud Investigations

The Challenge:   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...

No Fraud Flags? No Problem!

Insurers need not worry if their previous fraud cases aren’t flagged. Implementation of fraud detection software can still be an easy task.

Research Proves Insurers Lack on Fraud Detection

In 2018 the Danish insurance association, Forsikring & Pension, states that Danish insured people pay way too much for their premiums because of insurance fraud.

Solving and Preventing Your Own Damage Claims: The Holy Grail?

Insurers are working hard at matters such as customer engagement and straight through processing (STP). In this blog, several methods insurers currently adopt to achieve self-processing of damage claims are being discussed.

Staged Accidents and Insurance Companies

States like Florida are playgrounds for retirees – and the fraudsters who prey on them. We discuss how staged accidents happen to unsuspecting seniors.

Success Factors for Fighting Insurance Fraud

For this episode of FRISS Lab we interviewed Enim Ayik, Head of Claims Management Department at Anadolu Sigorta. He explains us what he sees as the 4 biggest Succes Factors of Fighting Insurance Fraud.

Tackling The Scourge Of Ghost Broking

Stopping ghost brokers in real time reduces the need for the post sale processes and preventing insurers from becoming an RTA insurer.

The Fraud Triangle – An Understanding from a P&C Insurance Fraud Perspective

The Fraud Triangle, developed over a half-century ago, still holds true today, and explains what it takes for fraud to happen and how it can be stopped.

The Importance of a Fraud-Fighting Culture at Insurers

A fraud-fighting culture is more than just an automated detection system. It’s the people that work with it who are important. It’s also the organization around it.

The Importance of Data for a Holistic View on Insurance Risks

Information on the insured persons and assets, claims and detected fraud helps in making well-founded judgements about risks and the value portfolios.

There Is More to CLAIMS Than Just “AI”

Dive into the many different aspects of claims and why we have to look outside of AI to find success. Learn why “there’s more to CLAIMS than just AI”, and what you might be missing.

This is How AI-Powered Fraud Detection Works

This piece of art -yes we are proud- explains in 85 seconds how AI-Powered Fraud Detection works for insurers. Enjoy!

Turning the Tables on Trust

Trust is a two-way street when it comes to claims fraud detection and risk selection, but there’s a good ending to the story.

Using Insurance Data For The Good Of The Customer

How does having all the data, models and software in the world benefit the customer? We attended Intelligent Insurer Underwriting Innovation Europe event to answer this question for you. Read our blog to find out!

What is the fraud triangle?

Wondering how the fraud triangle works and what are the main elements leading to fraud? Watch our video on Fraud Triangle to find out!

Why We Are All Fraudsters

What turns people into fraudsters? Is it just opportunity or does it take more that that? Peter Schimmel is partner at Forensic & Investigation services at Grant Thornton. This blog is based on his FRAUDtalk of 15 September 2016.