Request for trial
Subscribe to our updates

Fraud Analytics

Leveraging analytics to counter Fraud

Fraud in Insurance claims cost the industry tens of billions of dollars annually. Shockingly
about 60% of the fraudulent claims go undetected. Insurance companies have put in sophisticated mechanisms to counter fraud, but have not been able to plug in the leak completely. The only way to counter fraud in Insurance is by predicting possible instances of fraud in advance by leveraging the power of analytics.


Fraud continues to be a challenge for the Insurance industry. Even with current process controls and specialized monitoring at Insurance companies, frauds continue to happen. It is so largely owing to the changing nature of fraud and the fact that most of the losses are incremental such as over-billing, over stating a loss, etc. The daily level need to meet an agreed service level for an activity such as proposal processing, claim processing or commission payout further raises the requirement to diagnose instances of fraud on the go.


The Insurance process generates data at every step from lead identification to underwriting and closure of sale. With these data points, a real time fraud framework that can predict instances of possible fraud can be built. Using behavior analysis and interaction data points, the system can throw severity prompts to tackle fraud.


Aureus' Fraud Analytics solution is built on years of experience in analyzing real time events to call out suspicious activity all the while ensuring that the false positives are taken into account. Using CRUX, we are able to deliver critical insights to the business user in near / real time, by processing structured and unstructured data from scores of data points such as interactions, transactions, relationships, demographics etc... CRUX delivers the capability to analyze and identify fraud before it happens and lets the business user develop models in real time to counter newer types of threats that emerge.


Fraud Identification Aureus

What can Big Data do for ME?

Read More

Fraud Identification and Analytics

How a Data Scientist Thinks.

Read More


© 2017. Aureus Analytics. All Rights Reserved | Privacy policy | Terms Of Use

Site Developed by: Ethinos Digital Marketing