Canadian National Insurance Crime Services (CANATICS) will use BAE Systems Detica’s NetReveal to detect suspicious auto insurance claims in Canada. The service, commissioned for a five-year period, will focus on Ontario, with a view to expanding across Canada.
Detica said the deal represents an expansion of its Canadian business and, in particular, the growth of Detica’s global insurance fraud prevention offering. Detica said its NetReveal anti-financial crime solution provides automated risk scoring and prioritization of suspicious claims, and exposes hidden patterns of fraudulent behavior. NetReveal integrates data from multiple systems and insurers to create a single view for fraud detection and investigation with data integration and hosting.
NetReveal combines predictive analytics with social network analysis to identify suspicious behaviors and detect, prevent and monitor fraud, Detica added. It also can reduce exposure to organized and opportunistic fraud, and improve customer service across all lines of an insurance business.
