Find Insurance Fraud and Risk Analytics systems on our financial technology solutions research platform. Use the directory for vendor discovery and use our guide to analyze, research, compare, and evaluate software including reports and RFIs on functionality used by financial institutions including insurers.
An insurance fraud detection solution helps insurance companies identity fraud in the insurance process (application to claims) and consequently plan actions to mitigate them. They may utilize sophisticated analytic tools such as network analysis or text analysis. In the long run, an insurance fraud detection system's purpose is to improve the overall claims ratio of an insurance company by reducing refund in case of fraudulent claims.