The National Insurance Crime Bureau estimates insurance fraud has escalated by 19 percent since 2009. To detect more fraud, reduce false positives, and improve investigator efficiency, insurers now have the latest version of SAS Fraud Framework for Insurance.

Enhancements include streamlined social network analysis, pre-built insurance content for better fraud detection, and the new SAS Financial Crimes Monitor.

“Insurers are catching up with the rest of financial services in preventing fraud. With questionable claims at all-time highs, insurers need advanced analytics and link analysis to identify and prevent fraud sooner,” said Stephen Applebaum, senior analyst for property & casualty insurance, Aite Group. “Insurers benefit significantly: reducing false positives means processing legitimate claims faster, reducing overhead while improving customer experience and retention.”

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