Fraud Detection & Management

Our Fraud detection applications provide Insurers with the capability to detect and manage Fraud in an objective, auditable manner through the use of predictive modelling and business rules.

KBBS Fraud detection represents a route to an effective long term solution involving no capital expenditure and relatively insignificant set up costs in comparison with the more traditional software purchase method.

We use advanced analytics combined with the more traditional 'business rules' approach to identify potentially fraudulent and other anomalous claims.

Of course the flipside of this approach is that those claims representing a very low fraud risk can be fast-tracked, in turn providing your most valuable customers with an enhanced service level at minimum risk to your organisation.

Our solution can include embedded review capabilities to ensure that the 'referral quality' can continuously improve.

Benefits:

• Objective methodology for the detection of fraud
• Indemnity savings through the identification of additional fraud
• Fewer false positives leading to increased efficiency of your Investigation team
• Improved service for low risk claimants through claims fast tracking
• Fully flexible customisation of your solution, along with the ability to self-manage on an on-going basis

Fraud Management

Our fraud management application provides Insurers with the capability to manage Fraud investigations. When combined with our Fraud detection applications, we now offer an end to end Fraud Management capability.

Our Case Management application allows fraud investigators to manage their cases from receipt to closure. We provide a full, auditable record of all the customer contacts and actions taken for each case and the control to ensure that decisions are taken by those with appropriate authority levels.

Further benefits arise from using both fraud detection and case management applications as it enables closed-loop reporting of referral effectiveness and subsequent performance improvements.

Contact us for more details or to schedule a demonstration.