Claims AI Cloud Cuts Down Insurance Fraud Cost and Boosts Net Promoter Score

fraud detection, Claims AI Cloud Cuts Down Insurance Fraud Cost and Boosts Net Promoter Score

Insurance fraud is not a victimless crime. According to the FBI, fraud costs the average US family $400 to $700 per year in the form of increased premiums. The menace of fraudulent claims continues to plague the P&C insurance industry. Insurance fraud creates significant financial burden for the insurance carriers as well as other policyholders, due to higher insurance costs.

Claims AI Cloud is a purpose-built platform for insurance claims, with pre-built connectors to ingest and synthesize a variety of claims related data sets, pre-trained models and API based integration; the platform quickly identifies relevant data patterns to help with detection of fraud by as much as 10%.

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