A lot has been written about criminal activity resulting in losses due to P&C fraud. While coverage of the actual crimes is pervasive in the media, not enough has been written about strategies to prevent these losses. Let's explore how recent innovations in analytic technologies can help prevent fraud and contain escalating claims.
The Challenge
Today more than ever, the volume and velocity of incoming data coupled with shrinking windows of time make fraud investigative analytics very challenging. Recently, we spoke with a senior P&C investigator at a large insurance carrier, who pointed out a series of challenges with existing technology used in investigative analytics today.
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