There’s a multi-billion dollar fraud problem in the insurance industry.
Financial services and insurance companies are challenged to provide superior customer service, comply with regulatory requirements, and manage fraud, all at scale and in a cost-efficient manner. Traditional approaches are reactive, manual in nature, and brittle due to changing requirements, prompting institutions to consider leveraging AI.
By delivering out of box AI solutions to common big industry problems, CognitiveScale enables financial services institutions and insurance carriers to jumpstart their AI-led business transformation.
Cognitive Scale has the solution: Fraud Detection AI.
CognitiveScale Fraud Detection AI is a novel AI-driven solution that helps insurers target soft fraud. Our solution provides a set of models for analyzing structured and unstructured data for documents and policies to surface manipulation, anomalies, and duplication. In addition, the solution builds and maintains intelligent profiles of the agent, policy, and the insured to provide a real-time view of fraudulent behaviors.