Tackling the Growing Problem of Insurance Fraud.
Insurance fraud in North America is a US$80-billion a year problem… and it’s getting bigger every year. Fraud accounts for 5% to 10% of claims costs, and one-third of insurers say it is as high as 20%.
Fraud makes insurance companies less profitable. It also makes them less competitive if premiums are raised to account for fraud losses.
Insurance companies need more effective approaches to fraud detection. A key part of battling fraud is embracing new technologies that automate processes and eliminate time-consuming, manual work.
This free eBook explores four key trends:
- New technologies that discover fraud, and streamline and automate claims processing.
- The increase in legislative solutions in North America and court decisions to battle fraud.
- A plateau in anti-fraud resources, which will fuel the need for innovative technology.
- The growing interest in artificial intelligence and the need to embrace the right approach.