Fraud prevention

Research shows rapid adoption of predictive algorithms and digital identity technology will stem the pandemic-driven fraud deluge. Insurance fraud causes more than $80 billion in losses annually in the U.S. alone, according to the report.

New methods, using artificial intelligence, ease the fraud detection burden and help insurance companies stay one step ahead.

13 percent of organizations now use AI and machine learning to detect and deter fraud, but another 25 percent plan to adopt such technologies in the next year or two.

Some of the largest companies tripled cyber-defense budgets in the last three to four years amid a surge of attacks on client information, accounts and other data.

The top areas where insurers will spend new money are predictive modeling and link analysis/social network analysis.

Carriers are ahead of other industries in leveraging unmanned aerial vehicle technology for some very good reasons.

These industry newcomers from Plug & Play's summer program are focused on providing solutions that insurers in any line of business can use.

Carriers must be careful stewards of data in order to mitigate the impact on consumer privacy, experts say.

Vendor’s technology searches for indicators as first notice of loss information comes in, giving users access to a business intelligence dashboard.

Early adopters of advanced AI technologies are able to reduce fraudalent practices and improve customer service, says Julie Conroy.