A claims fraud-detection system helps insurance carriers identify fraudulent claims at both the individual and organizational levels. It is typically used by claims teams and in special investigative units (SIU). A variety of business benefits can be achieved from claims fraud-detection solutions, but two of the primary goals are:
• Improving the carrier’s loss ratio by identifying illegitimate claims.
• Enhancing the overall customer experience by giving carriers the confidence to quickly indemnify claims that are deemed valid.
This report provides an overview of claims fraud-detection solutions for property-casualty insurance carriers. The report profiles 10 solutions, providing an overview of their functionality, customer base, technology, SaaS capabilities, implementation, pricing, and support.
Note: The companion report to this series, So You Want to Buy a Fraud Detection System, 2024 Edition, will post in late August 2024. (At that time, a live link will be added to both vendor reports)
For over 20 years, Celent has helped senior executives make confident decisions around their technology strategies to execute at scale.
As the financial services industry rapidly evolves, there is more complexity, with new regulations, startups, technologies, and applications to stay on top of and prioritize. Celent helps you connect this ever-changing puzzle. We offer objective advice and clarity, backed by a database of thousands of solutions and award-winning global best practice use cases. With real-life domain expertise, we also guide you through the maze of emerging tech in the pursuit of value.
Our people, data, insights, and relationships form the foundation for you to use Celent to make confident technology decisions in financial services.
