Fraud continues to weigh heavily on insurers, eroding profitability and undermining customer confidence. The Association of British Insurers reported that UK insurers uncovered £1 billion worth of fraudulent claims in 2023, with the average detected… Building the Business Case: Why Fraud Detection Technology Pays for Itself
Proactive fraud prevention has moved from operational nice-to-have to board-level imperative. When bogus claims slip through the net they erode margins, inflate reserves, and push combined ratios in the wrong direction just as solvency and… The True Cost of Undetected Insurance Fraud: A CFO’s Guide to Loss Prevention
Insurance fraud costs the industry billions each year. And while technology has helped process claims faster, it has also given fraudsters more tools to manipulate the system. Today, insurers are not only fighting inflated claims… Top Insurance Fraud Trends and How to Tackle Them
Artificial intelligence is now influencing insurance in ways that were not anticipated. What began as a tool for efficiency is now also enabling fraud. Claimants are using AI tools to fake documents, create synthetic images,… Fighting AI with AI: The Insurance Industry’s New Arms Race
Fraud is an ever-evolving threat across industries, costing businesses billions each year. Traditional fraud detection methods, reliant on manual reviews and rule-based systems, are no longer sufficient to combat increasingly sophisticated fraudulent schemes. This is… The Role of Data Analytics in Fraud Case Investigations
In the fraud detection and investigation ecosystem, an efficient investigation database is not just a convenience—it’s a necessity. Organisations dealing with fraud, compliance breaches, and other investigative processes require a robust system that streamlines data… Important Features to Look For In An Investigation Database
As custodians of wealth, banks are prime targets for fraudsters seeking financial gain. The scale, sophistication, and evolving nature of fraud in the banking sector make it one of the most challenging industries to secure.… Why Should Financial Institutions Use Fraud Case Management System to Fight Fraud in 2025
Insurance fraud is a pervasive issue that affects the entire insurance industry. One critical aspect of managing insurance fraud is effective referral management, which involves identifying, tracking, and investigating potential fraud cases. However, referral management… Common Challenges in Referral Management for Insurance Fraud and How to Overcome Them
Fraud is a persistent challenge in the insurance industry, costing companies billions annually while compromising customer trust. To combat this, insurers deploy robust mechanisms to detect, investigate, and mitigate fraud. Two key processes often discussed… Detailed Comparison Between Referral Management and Traditional Case Management
Detecting fraud with fancy fraud detection tools has become a new go-to for insurance companies. These tools identify fraud, which is a great thing, but what next? The grim reality is that insurance fraud costs… How to Handle Incomplete or Unreliable Referrals in Insurance Fraud Investigations