The increasing pressure of competition and ongoing industrialisation further reduce the scope for insurance companies. Therefore, the handling of claims becomes more and more important for insurance companies. In this context, one essential factor is to prevent insurance fraud which causes an annual loss of about 4 billion Euros in Germany.
With RiskShield 360°, the solution to detect fraud patterns, Arvato Financial Solutions and INFORM GmbH bet on a comprehensive check of all data sources relevant in the event of a claim by using various technologies.
Depending on the result a routing is initiated to the corresponding group of responsible employees. RiskShield 360° works with incriminating as well as exculpatory elements. Therefore, not only suspicious claims are identified and forwarded to the fraud experts but also »quick claims« are identified and approved for settlement. This allows a more efficient handling of unsuspicious claims which therefore can be settled more quickly. This finally leads to a higher customer satisfaction.
Besides the technologies mainly the information is essential for the discriminatory power
of an automated detection of fraud patterns. The new approach of RiskShield 360° is to
consider your own available internal information as well as external information.
Realisation of considerable savings by a clearly improved discriminatory power for the detection of fraud patterns
Consideration of all relevant data sources (internal and external sources)
Optimisation of claims handling (cost efficiency by specific deployment of employees)
Minimised project risk by using established software solution
Profound project know-how of both partners based on long experiences
Finance-Blog
