Software robots: New members of the fraud investigation workforce

Fraudulent insurance claims — the hits just keep on coming, with more than 60% of insurers experiencing increases in such claims between 2013 and 2016, according to research released last year by the Coalition Against Insurance Fraud. In September 2017, the Insurance Information Institute pegged the cost of fraudulent property and casualty insurance claims at $34 billion annually.

In addition to human resources to combat the problem, insurers are taking a different tack by adding software robots (also known as robot-processed automation, or RPA, solutions) to their fraud investigation workforce. These solutions automate the process of sifting through personal and other data found online to substantiate or disprove the fraudulent nature of any claim. These are just a few of the benefits of RPA solutions: