The IBM Center for Business Optimization has recently unveiled its Loss Analysis Warning Solution system.
According to IBM, the program uses data mining technology, an anomaly discovery engine, and data visualization techniques to scope out fraudulent claims, preventing policyholders, service providers, and employees from engaging in fraudulent activities.
IBM said that the program can be configured to quickly analyze a claim and help insurance companies avoid the “pay and chase” dilemma, where the claimant suspected of fraud is pursued and investigated long after the claim is paid. The program can be licensed for direct analysis or as an on-demand solution hosted by IBM at an IBM facility.
More information is available at www.ibm.com/services/cbo.
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