The National Association of Insurance Commissioners (NAIC) and Association of Certified Fraud Examiners (ACFE) have identified over $40B in losses related to Fraud with ~10% of those claims in Property & Casualty, Automotive, and Business Insurance. Further complicating the process is all 50 states in the US have different regulatory bodies, each with different rules and regulations. Some states have enacted legislation to combat the different types of insurance fraud schemes such as agent and broker schemes, underwriting irregularities, vehicle insurance schemes, property schemes, doctor and personal injury schemes, up-charging health treatments, inflating damage values, salvage fraud, and more.
Special Investigations teams are looking at ML methods and new technology to help reduce the queue of claims and increase the accuracy of fraud detection. Join our speakers in a hands-on session that demonstrates how to employ ML, Graph technology, Human-in-the-Loop, and visualization techniques to ensure your organization complies with Special Investigations units in 2022.
The focus of this webinar is to identify areas in which Machine Learning, Visualization, and Graph technology can increase the accuracy of claims fraud identification by over 21%, and to show how including the Human-in-the-Loop can get you ahead of your state’s fraud prevention legislation.