Insurance companies are using increasingly sophisticated methods to predict and identify fraud to cut losses. With advanced analytics and predictive modeling techniques, insurers can detect early signs of suspicious claims.
WNS’ Fraud Detector solution proactively captures and flags potential fraud cases across various types of claims. Its automated search capability looks for anomalous patterns in claims. This capability, when combined with demographic clustering, helps identify risk patterns. Integrating effortlessly with client databases, the solution also enables dynamic fraud prediction. The insurer is then able to take appropriate steps to prevent financial leakages through fraudulent settlement of claims.