Turkish insurance information and monitoring centre, Sigorta Bilgi ve Gozetim Merkezi (SBM), has partnered with big data analytics firm SAS to tackle organised car insurance fraud. Using SAS's Fraud Framework for Insurance, data from car insurance firms is aggregated, before analytical models assign risk scores to each claim. The digital solution analyses the information in complex current and historical cases more efficiently than a human, resulting in SBM discovering TRY259m ($86m) in potential fraud cases in daily of using the SAS software.
Turkish insurance information and monitoring centre, Sigorta Bilgi ve Gozetim Merkezi (SBM), has partnered with big data analytics firm SAS to tackle organised car insurance fraud. Using SAS's Fraud Framework for Insurance, data from car insurance firms is aggregated, before analytical models assign risk scores to each claim. The digital solution analyses the information in complex current and historical cases more efficiently than a human, resulting in SBM discovering TRY259m ($86m) in potential fraud cases in the first nine months of using the SAS software.