HNC is widely recognized as a leading developer of analytic and decision-management tools. But are carriers ready to turn their important underwriting and claims decisions over to machines?The similarities between fighting terrorism and combating insurance or credit card fraud are not very obvious. However, the Bush Administration's Homeland Security initiative is considering using some of the same technology that's now being applied to identify fraudulent transactions for more than 300 million credit cards worldwide, and by nine of the 10 largest insurance companies.
The technology is analytical and decision management software provided by HNC Software, a San Diego-based firm that counts among its clients more than 400 financial services firms on six continents, 15 state workers' compensation funds and more than 80 telecommunications firms. These organizations and government agencies share the common goal of converting structured and unstructured data into useful information that can be used to automate routine business decisions.
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