A joint study from the Coalition Against Insurance Fraud and SAS has shown that insurers’ are investing more into anti-fraud measures with more advanced solutions. The “State of Insurance Fraud Technology” survey of two-thirds UK carriers showed insurers were moving away from traditional detection tools and opting for more sophisticated methods such as predictive modelling, reporting exceptions and case management, which were used by more than half those surveyed. Data showed 41% of insurers expanding their tech budgets for the year, 84 looking to equip themselves with claims fraud detection technology, and more than 30% investing on underwriting solutions.
A joint study from the Coalition Against Insurance Fraud and SAS has shown that insurers’ are investing more into anti-fraud measures with more advanced solutions. The “State of Insurance Fraud Technology” survey of 84 UK carriers showed insurers were moving away from traditional detection tools and opting for more sophisticated methods such as predictive modelling, reporting exceptions and case management, which were used by more than half those surveyed. Data showed 41% of insurers expanding their tech budgets for the year, two-thirds looking to equip themselves with claims fraud detection technology, and more than 30% investing on underwriting solutions.