Fraud Management Solution to detect and prevent fraud business accurately and efficiently thanks to its powerful predictive engine. The predictive tool is able to anticipate new types of fraud and even detect operations so far undetected, reducing fraud losses to insurance companies.
Fraud Management can be applied to different types of fraud in the insurance industry:
- Home insurance fraud
- Multiplication of the insurance policy contract
- Hide or falsify information in hiring policy
- Simulation of theft
- Deepening of the casualty
- Crash simulation
- Foreign policy coverage
- Changes to the terms of the incident
- Murder or pretending to die to receive the benefits of life insurance
- Collection false medical expenses
What dVelox Fraud Management provides insurance companies
- Increased efficiency by 35% on average in fraud detection, which represents insurance companies a significant cost savings and resources to detect fraudulent transactions.
- Increase of over 10% on average in the detection of new types of fraud encountered in the automated market, allowing them to anticipate and make sound and timely decisions.
- Fewer false positives, insurers concentrate their efforts on the most economic impact and accuracy.
- Explanatory analysis and precise operations by customers for early detection of fraud, as the coverage of foreign policy, the simulated crash, the increase in insurance policy to hire, etc, that assesses the connection between variables and reduce losses of insurers.
- Increased reduction of over 50% of average time required to detect fraud, which is reduced by saving effort and human capital dedicated to preventing and analyze cases of clients committing fraud.
- Greater independence for experts of fraud, since they are not required to have knowledge of mathematics and statistics to use the tool.
Benefits of dVelox Fraud Management for a insurance company
- Speed and accuracy in the integration of information (data quality)
- Optimization of resources by focusing on cases that the tool detected as fraudulent
- Determines new types of fraud quickly and accurately
- Greater accuracy in detecting fraudulent transactions so far undetected
- Detailed analysis and explanation of fraudulent transactions in real time
- Predictive Software easy to use math skills are not needed