How SAS® Delivers Better Insurance Fraud Detection & Prevention
Enhance your fraud prevention efforts and engage in proactive fraud detection with advanced analytics from SAS. Ensure more efficient, effective investigations with industry-leading AI and machine learning capabilities.
- Find fraud from FNOL through the life cycle of a claim using machine learning and business scenarios.
- Detect more fraud and reduce false positives by processing all data – in real time or in batch – using a powerful analytics engine with embedded AI and machine learning.
- Understand analytical alerts and ensure effective triage with a user-friendly investigator interface.
Insurance fraud prevention
- Stop potential fraudsters from taking out new policies at the point of policy inception.
- Review insurance agents regularly to look for potential gaming of new business.
- Identify customers gaming the new premium through digital channels to ensure that the right risk is written and the correct premium collected for the risk.
- Arm your investigators with an intuitive interface for managing the whole case process, driven by a structured workflow.
- Provide all relevant internal and external data necessary to complete the case.
- Undertake intelligent searching of all data.
- Collect, manage and analyze intelligence from any source.
- Take a standardized approach to intelligence handling.
- Improve operational efficiency and effectiveness.
Why SAS® for insurance fraud?
Find insurance fraud faster – and stop it sooner – while reducing false positives and improving investigation efficiency.
Find more fraud
Implement a hybrid analytics approach that uses multilayered detection methods to find fraud at the individual claim or new business transaction, entity (customer, address, etc.) and/or network level.
Reduce false positives
Use analytics to ensure that the alerts highlighted for triage are significantly more likely to be provable fraud.
Visualize linkages among seemingly unrelated entities
Uncover previously unknown relationships using link analysis and identify new and emerging threats.
Rely on a proven solution
Join our many satisfied insurance fraud customers across the globe who have found additional fraud, achieved rapid ROI and improved the efficiency of the whole fraud process.
How does one of Turkey's leading insurance companies achieve a 66% increase in its fraud detection rate?
SAS helped Aksigorta by providing:
- An end-to-end fraud management platform to prevent more fraud, detect organized fraud and provide real-time integration with existing systems.
- A complete solution that includes data preparation, predictive analytics and financial reporting, enabling the insurer to prevent opportunistic and professional fraud.
- Real-time fraud detection capabilities.
- Social network analysis capabilities that search for hidden connections across the company’s insurance claims database.
Related Products & Solutions
- SAS® Anti-Money LaunderingTake a risk-based approach to monitoring transactions for money laundering and terrorist financing activities.
- SAS® Detection and Investigation for InsuranceDetect, prevent and manage insurance claims fraud across all lines of business.