The State of Insurance Fraud Technology

White Paper

The State of Insurance Fraud Technology

A study of insurer use, strategies and plans for anti-fraud technology


For the third consecutive time in six years, insurers report increasing amounts of suspected fraud. Nearly three-quarters of insurers in the 2018 survey say fraud has increased, an 11-point increase since 2014.

Other findings include:

  • Anti-fraud technology is seen as a major weapon to address increased fraud.
  • Insurers are relying much less on traditional technologies and more on predictive modeling, link analysis and exception reporting. A few also employ artificial intelligence.
  • In the last two years, new players in the field have increased anti-fraud technology offerings.
  • With increased competition and more outsourced services, costs in some areas have declined.

The expansion in anti-fraud technology does have growth pains, however. Insurers report increased frustration with integrating data into their systems and continuing problems with high levels of false positives.
 

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