Insurance organizations largely depend on prebuilt business rules, workflow, and information collected from customers to monitor and detect fraud, which is not an effective way to tackle fraud in the new world of sharing and connected economies.
Goals and Objectives
Use telematics data to counter fabricated claims circumstances and fraud by comparing data provided by the claimant against telematics data collected through the sensors installed in vehicles or buildings. Partner with niche start-ups to leverage capabilities for accident reconstruction, injury assessment, and locating where the event has occurred to detect fraud more accurately and effectively.
IoT, Advanced analytics, Cognitive technologies, Cloud
Use Case Summary
Employ digital technologies and complement the findings of expert claims adjusters with the telematics data (impact dynamics) to reduce the probability of fraud in claims notifications