CNA Uses Predictive Analytics To Enhance Fraud Prevention
CHICAGO, CNA-issued release (Jan. 31, 2011) – CNA insurance companies announced that it will use SAS Fraud Framework for Insurance to help in its fight against fraud. Developed by SAS, the SAS Fraud Framework for Insurance will assist in fraud prevention by facilitating the detection and prioritization of suspicious claims in order to help protect legitimate policyholders and claimants, with the goal of keeping CNA one step ahead of criminals.
"We have long believed that the future of fraud detection is information intelligence," said Tim Wolfe, director of the Special Investigations Unit at CNA. "Identifying fraud one claim at a time continues to be important, but being able to detect and react to organized networks perpetrating fraud across multiple claims, jurisdictions and lines of business is where we can have the biggest impact."
Serving businesses and professionals since 1897, CNA is the country’s seventh largest commercial insurance writer and the 13th largest property and casualty company. CNA’s insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. CNA is a registered trademark of CNA Financial Corporation.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 50,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world
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