AXA has signed up to use BAE Systems Detica NetReveal insurance claims fraud prevention service as part of an initiative to select a single solution across the group.

NetReveal reduces the risk of fraudulent customer claims and improves investigation times for personal and commercial motor and property lines of business, according to BAE, which also claims that AXA can benefit from the standardization of processes, workflows and reporting across the company’s global business units.

By enabling investigators to monitor and clearly identify and prioritize suspicious activity as well as access and analyze customer data, AXA entities should be able to improve customer service through faster claims handling times, says BAE. AXA also can minimize the time and resources spent on investigating claims incorrectly flagged as being suspicious.

NetReveal is designed to link related entities within a company’s data to reveal networks of suspicious activity that otherwise are hidden beneath seemingly innocuous claims. Unlike traditional rules-based systems that only can monitor fraud methods already known to occur, the NetReveal solution provides a single view of customers and their known associates, scoring individual and network behaviors across an organization’s entire portfolio of products and brands, says BAE. In doing so, it facilitates the speedy resolution of honest claims and effective decision making at policy inception, while uncovering and prioritizing the risks associated with suspicious activity.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access