Claims Fraud Detection Systems: 2012 IT Vendor Spectrum

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30 November 2012
Nicolas Michellod

Abstract

The insurance industry is going through difficult times. Getting the insurance business basics right is a major preoccupation for insurance companies worldwide.

In the report, Claims Fraud Detection Systems: 2012 IT Vendor Spectrum, Celent provides a detailed description of IT vendors and their offerings in the claims fraud detection area.

Profiled Vendors

Vendor

Solution

Headquarters

BearingPoint

HyperCube

Amsterdam, The Netherlands

CSC

Fraud Analytics Suite

Falls Church, VA, USA

Detica NetReveal

Detica NetReveal for Insurance

Guildford, United Kingdom

FICO

FICO Claims Fraud Solution

Minneapolis, MN, USA

Friss Fraud & Risk Solutions

FRISS

Utrecht, The Netherlands

IBM

Fraud and Abuse Management Solution

Armonk, NY, USA

Innovation Group

Insurer Analytics

Whiteley, United Kingdom

LexisNexis

ClaimFocus

Alpharetta, GA, USA

Panopticon Software AB

Panopticon

Stockholm, Sweden

SAP

SAP Fraud Management for Insurance

Walldorf, Germany

SAS, Inc.

SAS Fraud Framework for Insurance (SFFI)

Cary, NC, USA

SynerScope B. V.

SynerScope

Eindhoven, The Netherlands

Valen Technologies, Inc.

ClaimsRight

Denver, CO, USA

“Fighting claims fraud represents a key element of insurers’ strategy, and we think claims fraud mitigation will trigger more investment in the near future,” says Nicolas Michellod, Senior Analyst with Celent’s Insurance Group and coauthor of the report.

“There are differences among vendors, most notably in terms of data sources, service, and delivery options,” he adds. “We recommend that insurers carefully assess what options best fit their requirements.”

Each vendor and system described in this report is profiled using the same structure, starting with a synoptic table presenting the company and its claims fraud detection solution. Celent describes the solutions’ data sources and delivery options, functionality, and technology as well as implementation and costs.

This 59-page report contains 57 tables.

Insight details

Content Type
Reports
Report Type
Technology trends, Vendor landscape
Special Interest
Risk Management & Compliance