The fraud ring, which included owners of litigation-funding companies, attempted to defraud insurance companies of more than $31 million.
As more P&C insurers offer insureds the opportunity to file claims online, policyholders have come to expect a speedy and seamless claims experience.
Growing replacement costs and the frequency of severe weather are driving up the average annual total, according to Verisk.
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Harnessing the power of AI/ML models allows insurers to win the race to zero questions on an insurance application. Download this white paper and learn how you achieve a holistic view of applicant risk to fuel automated workflows.
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Proactively tackling fraud in an insurance business has never been more critical. Consumers have expected improved levels of service during the pandemic and migrated to online interaction, driving demand for claims automation. This paper demonstrates how identifying and acting on the Halo Effect is crucial to all aspects of risk management and how AI automation is necessary against fraud and risk to grow profits and retain customers.
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Sharing data within the program business market is crucial for reporting purposes but embracing truly frictionless data sharing can also improve overall business performance - if certain challenges can be overcome. Download this free guide and learn how automated, smart systems can help improve data validation, risk management and is critical for governance reporting and value-added analysis.
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