Insurance Fraud Detection Solutions: 2022 Life Insurance Edition

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
26 September 2022

A Celent Solution Scape: Powered by VendorMatch


A claims fraud-detection system helps insurance providers identify fraudulent claims, at both the individual and organizational levels. It is typically used by claims teams. There are a variety of business benefits that can be achieved from claims fraud-detection solutions, but two of the primary goals are:

  • Improving the carrier’s loss ratio by identifying illegitimate claims.
  • Enhancing the overall customer experience by giving providers the confidence to quickly indemnify claims that are deemed valid.

This report provides an overview of fraud-detection solutions for life insurers. The report profiles 5 claims fraud-detection solutions providing an overview of their functionality, customer base, technology, SaaS capabilities, implementation, pricing, and support. The following vendors and solutions are included in this report:

  • FraudKeeper: FraudKeeper
  • LexisNexis Risk Solutions: Accruint® for Insurance
  • SAS: SAS® Detection and Investigation for Insurance
  • Shift Technology: Shift Claims Fraud Detection
  • Verisk: Verisk's Fraud Solutions

While this list is not by any means exhaustive, Celent believes it provides a valuable sampling of vendors.

This report aims to help life insurers define their claims fraud-detection solution requirements if they are looking to select a partner. It can be used as the first step toward creating a short list of vendors for evaluation. Insurers continue to have a broad spectrum of systems and vendors to consider when looking for a solution to fit their needs. Insurers can leverage their access to the authors through analyst access calls to learn more about the vendors.