BAE Systems

Don’t miss out on our new Insurance Insights content. To grow and thrive, insurers need to harness their data, understand their customers, and measure fraud for an intelligent view on risk, opportunity and ROI
 

Budget and resourcing constraints, data challenges and accelerated growth combine to leave small and midsized insurers particularly exposed to fraudsters. The solution lies in fraud prevention however, when it comes to investing, how can insurers gauge the ROI of a fraud detection solution?

Calculate the Return on Investment (ROI) of Insurance fraud solutions ipad image

Calculate the Return on Investment (ROI) of Insurance fraud solutions

To understand ROI, insurers first need to understand the factors that influence both direct and indirect cost. It sounds simple but it definitely is not.
 
The cost of fraud is not only the direct cost of the fraud itself but also the indirect cost of the customers lost along the onboarding or claims process – discouraged by slow responses and frustrating processes.
 
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