A Miami insurance agent is charged with bilking a finance company out of $276,000 in premium payments with a series of fake applications.
A Long Island broker will serve three to nine years in prison for defrauding several clients and carriers of more than $1 million.
For insurers, the case for advanced analytics has historically focused on the detection of claims fraud. That notion is evolving. Business use cases are expanding beyond the claims department — and for good reason. As the industry focuses on digitization, there is a greater need in the industry to monitor and gain visibility into the activities of employees and agents. Not in a "Big Brother" way but as a means to improve business practices and better serve customers.
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