BAE Systems

Dennis Toomey

Dennis Toomey 
Global Director, Counter Fraud Analytics and Insurance Solutions  

Dennis brings nearly three decades of experience to BAE Systems’ Insurance team. A Certified Fraud Examiner (CFE), Dennis has held senior positions at SAS, Accenture, Liberty Mutual and LexisNexis. He holds an MBA in Leadership from Franklin Pierce University.
 
“We are seeing a convergence of Cyber, Fraud, Risk and Compliance across the financial services industry,” says Dennis. “Transnational Organised Crime Groups are using proceeds from Insurance related crimes to fund other illegal activities, and Compliance for Insurance is being driven by stricter regulatory mandates and data privacy.”
 
The key challenge Dennis currently helps insurers address is the need to detect more fraud, and do so faster with less challenges. With 29 years of tackling insurance fraud, he’s keenly aware the phenomenon is not a victimless crime.
 
“Insurance fraud increases the cost to all involved. Organised crime gangs use the proceeds of fraud to fund their illegal operations, from human trafficking to terrorist financing,” says Dennis. “We’re increasingly seeing insurers use analytics to make it as difficult as possible on these ethically challenged individuals and criminal organizations. This allows carriers to focus on the good customers and resist the threats.
 

Ask Dennis about:

Counter Fraud Analytics, Consortiums, Artificial Intelligence, Machine Learning or Operationalizing a Fraud Detection System across the enterprise.

 
 
 

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