Insurance claims fraud facts

Did you know that: On global scale about 10-15% of the total amount of claims are fraudulent Analysts predict this fraud to increase to 20%, due to further automation (Straight Through Processing/Fast- Track) It can easily take a trained forensic expert 15 minutes to one hour per submitted claim document to examine, and that then still, the findings might be imprecise Despite the existing fraud detection techniques and efforts, between 5% to 10% of all claims handled, will still be fraudulent. Reducing this percentage will save the insurance companies a lot of money Committing fraud can be realised in many ways like: o using the same claim documents more than once o filing the same claims by different persons at multiple insurance companies o manipulation of documents (changing purchase data, address, description etc.) o using pictures from other locations o submitting fake invoices Traditional pattern-based fraud detect systems, tends to provide false positives which are time-consuming and costly to get confirmed.

Digital Fraud Detection System automates fraud

detection

The Digital Fraud Detection System (DFDS) is the solution to the above challenges. DFDS: can be integrated seamlessly and will be added to your existing infrastructure will detect in seconds, if a document is genuine or tempered with or if its fraudulent based upon more than 100 different detection points detects if a document has been used before (internally and externally) analyses ‘exif data’ extracts annotation layers creates evidence based reports etc . DFDS will save insurance companies a lot of time and money. DFDS has a high ROI!

Insurance claims fraud: DFDS is the

solution