Our NetReveal solution for Property and Casualty (P&C) Insurance Fraud is proven to revolutionise the detection of fraud and organised crime. We help insurers detect and combat fraud by providing holistic fraud risk management at the point of quote and throughout the claims process
P&C insurance fraud is increasing at an alarming rate. Insurers are being targeted by multiple adversaries, fraudsters and organised crime rings are utilising tactics to alter claims, omit data on coverage applications and gain access to unauthorised funds.
To reduce and prevent future loss, insurers must detect unlawful activity at the earliest instance.
NetReveal P&C Insurance Fraud Solution
Our NetReveal® P&C insurance fraud solution helps insurers detect and combat fraud by providing holistic fraud risk management at the point of quote and throughout the claims process.
Our P&C insurance fraud solution detects existing fraud cases faster, and uncovers previously unknown and undetectable fraudulent activity.
By linking people, events and key elements within an insurer’s data, it detects and prevents fraud that traditional systems cannot. It reveals previously hidden networks and relationships,providing a significantly higher uplift compared to conventional claim level scoring alone.
NetReveal also helps to reduce false positives by scoring, profiling, matching and applying rules to networked data, in batch or real-time, and provides the operational tools to enable fraud teams to be more efficient than ever before.
Our real-time fraud risk scores can be used during the quote process for adjusting prices or eligibility or during the claim process to flag suspicious claims for investigation, support the end-to-end investigation, and to fast track genuine claims through the process.
- Reduce total claim spend by 3% per annum – in many cases, by much more
- Double the amount of fraud currently detected
- Meet compliance mandates
- Lower false positive rates
- Up to three times enhanced investigator efficiency through reduced claim handling time and effective prioritisation of cases
- Provides single view of customers– even in cases where there has been deliberate manipulation of data
- Prevent fraudsters gaining insurance from your organisation by deploying the technology at policy inception in real time
- Real-time scoring enables sub-second response at point of quote, policy inception and loss
- Facilitates improved customer satisfaction through faster claim handling times and appropriate policy pricing.