SNAFraud combines advanced algorithms with SNA techniques, to detect fraud in insurance claims.
- Identifies fraudsters early in the claim management process
- Reduces operational costs through automated fraud detection
- Enables the fraud analyst to focus on high fraud potential cases first
- Prevents repeat fraudsters by keeping detailed information of past claims and black lists
- Adapts to new criminal strategies and ever changing tactics to commit fraud
- Integrates with claim management. SNAFraud has an integration module that allows flexible and fast integration with existing databases, web services and applications. It returns fraud probability information back to the claim management application.
- Powerful visualization of the social network of a claim. Shows the claim network, and interconnection with other claims previously identified as fraudulent.
- Detects fraud during the claim intake process. Alerts are created during first minutes of intake leveraging the balance between good customer service (fast payment of claims) and extensive data collection about the claim to enable in-depth fraud analysis.
- Advanced data mining algorithms and SNA. The algorithms look at atypical and extreme values or a combination of values. Algorithms learn from past claims. Different types of alerts are generated each with a probability of assertion.