According to IT consultant Detica, there is a "woeful" lack of effective technology in the market to tackle the problem of claims fraud, which is estimated to cost insurers £4bn per year. According to Detica, solutions currently deployed by most companies focus exclusively on detecting types of fraud based on the known methods of fraudsters who have previously been caught. Few, if any, attempt to recognise the more complex cases that often result from collaboration inside insurance companies
- Claims management reorganisation at Ageas
- Covea GWP hits £666.3m
- Blog: Comply with GDPR or risk a £17.5m fine
- Broking success: Richard Dornan, Premium Choice
- Lloyd's contacts all staff about voluntary redundancies
- InsurTech Futures: Ageas to use AI in claims handling
- Blog: Allianz and LV, a tie-up that could turn others green with envy?