Advanced fraud detection to protect your bottom line
Identify fraud from first quote through the life of a claim with FraudStar. The innovative suite of fraud analytics tools uses machine learning, advanced analytics, and real-time shared intelligence to help detect fraud quickly and expedite legitimate claims.
Fraud can occur at any stage—which is why FraudStar Analytics performs sophisticated fraud checks in real time at point of quote, policy inception, midterm amendment, claim report, and renewal. The comprehensive case management system features cutting-edge technology that:
Managing intelligence is a critical aspect of claim investigations, and the FraudStar Intel solution meets the need with a secure data repository for counter-fraud teams. The solution can process intel from multiple sources, such as batch files, systems transfers, documents, and open-source intelligence.
It imports intelligence for diagramming, geotagging, and resolving entities. The solution also automatically scans text and documents to link to entities, screens for key words and phrases, and searches all structured and unstructured data.
The average insurance fraud scam costs insurers £12,000
As more insurers use customer-submitted photos to assess damage, there is greater risk of fraud through image manipulation. FraudStar ImageCheck uses cutting-edge image recognition and deep-learning technologies to detect if an image has been modified.
FraudStar easily integrates with insurer claim and policy systems. It also seamlessly works with Verisk’s suite of solutions, providing a central repository of antifraud claims and policy data that fuels real-time claims analysis through continuous data washing at every stage of a policy or claim.