On-Demand Webinar

Fraud Prevention in Motor & Life Insurance: Saving Millions of US Dollars with AI and Graph Analytics

Discover how data analytics can be used efficiently for the investigation, monitoring, and regulation of insurance fraud

Learn from Insurance industry practitioners how to use graph analytics, artificial intelligence, and process automation to improve the efficiency of detecting and preventing insurance fraud in Motor, Health, and Life insurance.

Fraudulent claims can make up to 30% of the total claims amount, especially during economic downturns when people may resort to fraudulent means for additional income. This is a significant issue that requires attention from all insurance companies, regardless of size or type, in the General and Life Insurance space.

However, many insurers still rely on manual and labor-intensive processes to detect fraud, which only uncovers a small portion of it. Additionally, fraud is not limited to just claims but can occur throughout the insurance policy life cycle. As losses from fraud continue to increase, automation of fraud detection and prevention is a top investment and strategic priority for insurance executives.

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Highlights

  • Common methods used by customers, agents, and partners to commit fraud in Motor, Health, and Life Insurance
  • Key challenges faced by insurers while fighting fraud schemes when using standard semi-automated, labour-intensive processes
  • How insurance companies around the world are leveraging graph analytics, artificial intelligence, statistical anomaly detection and process automation to uncover more fraud in Motor, Health, Life Insurance at a faster pace
  • Success stories from SAS Customers who are operating in the Motor & Health Insurance space
  • Business value & practical challenges associated with transforming fraud detection and prevention processes using advanced analytics

About the Experts

David Hartley

David Hartley

Global Director, Fraud and Financial Crime Practice
SAS

David is a 20+ year SAS veteran based in the UK and has global responsibility for the direction and development of specific analytics solutions to address insurance fraud detection and prevention and leads a team of insurance fraud global experts.
David has over 35 years of insurance experience. He was part of a small team that established Lloyds Bank as the largest bancassurer in the UK in the mid 1990’s. Prior to this he spent 7 years at Eagle Star (now part of Zurich Insurance) working on both central data repositories, the application of data intelligence (including fraud detection and customer intelligence) and running direct marketing teams and was part of the management team that established their successful personal lines direct writer in 1989.

David is a life long Manchester City supporter. He is also the Chairman and Founder of a global medical research charity and support group, The XLP Research Trust.

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