Complimentary White Paper
Fraud costs insurers in excess of $80 billion dollars each year, and in turn increases premiums in all lines of insurance.
Despite these staggering statistics, deploying fraud detection technology continues to be a hard sell, with the top challenges being a lack of IT resources and a compelling-enough cost-benefit analysis.
This paper cites research conducted by The Coalition Against Insurance Fraud (CAIF) to better understand how – and to what extent – insurance companies are actually using anti-fraud technology successfully. The study also addresses why one-third of all the insurers surveyed plans to invest technology budgets in areas such as predictive modeling and text mining over the next 12 to 24 months.