Fraud has always been a threat, but the risk escalates as more business is conducted through digital devices and the internet. Since fraud risk can start at the point of application – providing financial gain to customers and/or agents – it makes sense to have strong tools in place to monitor the digital application process. This paper presents analytics-driven methods to: • Verify the identity of the individual making the application. • Identify the potential for future claims fraud at the point of application. • Spot customers gaming the system to their advantage when using direct channels. • Detect insurance agents who are gaming the system in broker channels.
This is a companion discussion topic for the original entry at https://www.sas.com/en_gb/whitepapers/insurance-application-fraud-109925.html?utm_medium=RSS&utm_source=white-paper