Insurance Fraud Insights: Tackling The Changing Insurance Fraud Landscape
In this edition, we explore the changes in the insurance landscape and the biggest challenges carriers currently face.
Tackling The Changing Insurance Fraud Landscape
With the rapid development of affordable artificial intelligence tools, insurers struggle to keep up with evolving fraud schemes such as photo and document manipulation through deep and shallow fakes, ghost broking, and padding invoices.
Digital fraud has been on the rise since 2020. Although some fraud schemes are not new, fraudsters have adapted their modus operandi to exploit the gaps in insurers' digital environments.
What can you do to prevent digitized insurance fraud?
5 Reasons Why Insurers Should Start With Automated Fraud Detection
Insurers must meet several requirements to satisfy the ever-increasing customer expectations. Those range from the speed of service, via a fully digital experience, to a seamless integration of products.
Here are five ways automating fraud detection can help:
Starting with automation does not mean that other processes need to be paused.
Learn more on how you can start automating fraud detection now:
The Biggest Fraud Challenges
The insurance industry is modernizing fast in numerous ways. However, these positive developments can also present new challenges for effective fraud prevention.
In our recent study, 61% of insurance professionals cited internal data quality as their biggest challenge when it comes to fraud prevention.
Learn how to tackle the biggest threats carriers today face.