IntelliDetect
Traditional fraud detection techniques fail to uncover collusion between different entities involved in a claim fraud. Discovering the ring requires joining a number of tables in a complex schema such as Accidents, Vehicles, Owners, Drivers, Passengers, Pedestrians, Witnesses, Providers, and joining these together multiple times— once per potential role— in order to uncover the full picture. Fraud cases missed due to lack of rules leveraging social networks can cause large dent to the exchequer of an insurer eroding shareholder value.
Key Features
- Model multiple business entities in a claim along with their relationships
- Leverage Graph data science for community detection
- Hybrid approach for Fraud detection – Simple Business Rules as well Social network based rules
- Simple investigation UI to for alert disposition
- Advanced investigation capability for entities linked to a claim
- Historical analysis of alerts to optimize rules
- Ability to define modify rules
What benefit will it provide?
Unearth hidden fraudulent claims improving detection and increasing fraud investigation efficiency
Why is it required?
When it comes to identifying complicated fraud, including links between many parties, traditional fraud detection tools hardly scratch the surface.
In addition, the bandwidth needed for inquiry is a headache due to false positives from older methodologies.
What does it do?
IntelliDetect empowers Fraud Investigation Units with a tool that not only runs automated rules but also provides all the information required for investigation at their fingertips.