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Today's fraud trends and schemes are not those of 10 years ago. (Photo: iStock)

Fraud losses represent a systemic and increasingly convoluted risk affecting the profitability of every insurance company.

Traditional fraud detection methods and systems struggle with the complexity and speed of emerging organized fraud schemes. Insurers need a new approach to monitor customer behavior across multiple claims and lines of business. By combining multiple detection techniques, analytics and reporting, insurers can decrease fraud losses, reduce false positives and improve investigator efficiency.

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