Overview
Make real time claim decisions based on real time data to pay out legitimate claims in minutes and instantly flag those ones that are potentially fraudulent for investigation.
Key Features
The detection system provides an accurate estimation of the level of trust and risks with the aid of expert knowledge rules, predictive models, text mining and link analysis together with all available information in more than 100 external data sources. Based on this estimation, a risk score is given (FRISS Score). The higher the score, the higher the potential risk of fraud.
Key Benefits
- Save $2.5million a year by avoiding manual checks of legitimate claims
- 24% increase in accepted claims for investigations
- 75% reduction in False Positives
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SOLUTION OR SERVICE TYPE