A new version of SAS Fraud Framework for Insurance purports to be a response to numbers finding insurance fraud up 19 percent since 2009. Business analytics software and service provider SAS released its new product with promises of streamlined social network analysis, pre-built insurance content and a new SAS Financial Crimes Monitor.
“Insurers are catching up with the rest of financial services in preventing fraud. With questionable claims at all-time highs, insurers need advanced analytics and link analysis to identify and prevent fraud sooner,” said Stephen Applebaum, senior analyst for Property and Casualty Insurance, Aite Group. “Insurers benefit significantly: Reducing false positives means processing legitimate claims faster, reducing overhead while improving customer experience and retention.”
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