While insurers have come a long way in their efforts to detect and prevent fraud, weaknesses remain. It's estimated that 10 percent of all insurance claims are fraudulent -- and less than 20 percent of those fraudulent claims are detected or denied.
Clearly, there's room for improvement that could mean millions to hundreds of millions of dollars in savings. But what about preventing fraud before it happens?
Based on recent research conducted by Strategy Meets Action (SMA), this webinar explores the latest advances in fraud detection and prevention for the insurance industry. Our speakers will share industry-specific success stories and discuss:
- Taking a holistic approach to fraud prevention, detection and management.
- Managing fraud across the insurance value chain.
- Integrating fraud-fighting solutions with core systems and workflows.
- Deploying solutions swiftly and effectively to maximize value.
- Enhancing and maintaining solutions, including common challenges.
- Modernizing fraud prevention practices for insurers.
Founder, Strategy Meets Action (SMA)
Deborah Smallwood is known throughout the insurance industry for her strategic thinking, thought-provoking research and advisory skills. Insurers and solution providers turn to her for insight and guidance on business and IT linkage, IT strategy, architecture and e-business.
Prior to founding SMA, Smallwood served as Chief Transformation Officer for Insurance Company of the West (now known as ICW Group), where she delivered maximum IT functionality to business operations in minimal time. Before joining ICW, Smallwood launched and served as Managing Director of TowerGroup's Insurance Research and Consulting Practice. Smallwood's previous positions also include partner at KPMG LLP and leader of the commercial lines application development group at Liberty Mutual.
Smallwood frequently contributes to leading insurance trade journals and speaks at industry conferences. She holds a BS in business administration from the University of New Hampshire.
Principal for Insurance Fraud Solutions
Global Fraud and Financial Crimes Practice
James Ruotolo plans, manages and markets SAS® fraud detection solutions for the property, casualty, life and disability insurance markets worldwide. Previously, he was the Director of SIU Strategic Operations for the property and casualty special investigations unit at The Hartford Financial Services Group. At The Hartford, Ruotolo established and managed a 20-member analytical and intelligence operation and designed analytical protocols for investigating auto, property, liability, and workers’ compensation claims.
Ruotolo also spent several years as a manager in the Group Benefits Division Special Investigations Unit at Hartford Life, supervising investigative analysts and developing tools for investigating suspicious life and disability claims. Prior to joining Hartford Life, he was a Product and Markets Manager with the Fraud Solutions Group at LexisNexis.
Ruotolo holds a master's degree in economic crime management and a bachelor's degree in criminal justice. He's also a Certified Fraud Specialist and a Fraud Claim Law Specialist.