As insurance con artists expand their scam capabilities, insurers must diversify their own technological weaponry to spot and beat them at their own game, a fraud detection professional speaking advised.
When it comes to using technology to fight fraud, “insurance companies should use everything at their disposal, as no single technique will capture everything that occurs,” suggested David West, research area director for insurance at TowerGroup Inc., based in Needham, Mass.
Mr. West outlined a number of new high-tech options to help carriers fight fraud during his presentation last month at the ACORD LOMA Insurance Systems Forum in Las Vegas.
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