According to the Insurance Information Institute, the estimated cost of property and casualty insurance claims fraud is USD 32 billion in the US alone. And these losses are only growing.
Deter, prevent and intercept multiple types of insurance fraud with SPS Insurance Claims Fraud Servuce.
Avoid payment costs and reduce pay-and-chase situations arising from insurance claims fraud.
Ingest large data volumes. Improve decision-making accuracy and cut false positive alerts.
Give your claims fraud investigators the needed data and analytics to assess risk in holistic context.
Identify ghost claims, exaggerated injuries, crash for cash and swoop-and-squat scenarios.
SPS partners with IBM to offer a Next Generation solution - Safer Payments, Our primary objective is Fraud Prevention rather than just Fraud Detection. Safer Payments integrates true AI with agility, enabling financial institutions to dramatically ramp up
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