As insurers’ interest in artificial intelligence (AI) grows, we must not only embrace its immense capabilities but also work to mitigate its potential risks.
Image forensics: How photo data can reveal claims fraud
Photo-based claims estimates have been a growing trend the past few years in the insurance industry, and once the pandemic hit, that trend accelerated significantly.
Medical provider fraud, waste, and abuse— which have largely eluded most insurers—is an insidious, often unseen, problem that can damage insurers’ margins.
Every day, claims professionals are challenged with evaluating and processing claims quickly and accurately.
Adjusters can quickly find claimant details from policy information and verify the parties involved in an accident are who they say they are in Decision Net.
Investing in subrogation operations can yield a better ROI than acquiring a new policyholder. But it requires the right training, data, and expense management to increase…
An effective subrogation operation is built on data and analysis. Carriers who embrace innovative subrogation will reap the rewards of a loyal and satisfied customer…
Today, we can examine insurance trends that are likely to continue post-COVID-19. Here are some key takeaways for insurers as a new chapter unfolds across the industry.
The manual process needs automation, which can benefit both lenders and carriers. Fortunately, there are solutions available to automate the communication exchange…
Insurers are turning to AI to detect claims fraud automatically – but to get the most from their analytics, they need to understand the four components of an effective…
Taking a closer look at medical billing helps identify pandemic-related issues that can put patients at risk and negatively impact insurers’ bottom lines.
Neural networks, machine learning, multivariate random forest models, and various derivatives of the same are being used to create modern fraud detection models.
Unfortunately, crisis is fertile ground for fraud, whether it be the opportunistic kind or organized criminal activity.
Claims adjusters are now working at home, relying on customer-submitted images and videos to inspect and appraise damages for the foreseeable future.