Reg Tech
IBM Financial Crimes Insight for Claims Fraud
Stop claims fraud without impacting legitimate policyholders
IBM Financial Crimes Insight for Claims Fraud
Reduce losses from medical fraud, P&C fraud, motor/auto fraud etc. by applying cognitive analytics to identify complex and changing insurance fraud patterns.
Insurance fraud is acknowledged to be a significant global issue for the industry, impacting policyholders, operational efficiency and profitability.
Deter, prevent and intercept multiple types of insurance fraud with IBM Financial Crimes Insight for Claims Fraud, enabling you to improve detection processes and decision making, expanding the observation space within the institution, speed investigations and enabling faster claims resolution for customers. Watch the video to learn more about claims fraud detection.
Expedite claims fraud detection
Avoid payment costs and reduce pay and chase situations arising from insurance claims fraud. Uncover staged accidents, ghost claims, exaggerated injuries, crash for cash and swoop-and-squat scenarios.
Increase fraud detection accuracy
Improve decision-making accuracy and cut false positive alerts. Ingest large volumes of data through various analytic lenses. Route suspicious schemes to the SIU and speed low-risk claim resolution.
Improve productivity
Give your claims fraud investigators the data and analytics they need. Evaluate risk in the context of everything you know.
IBM Safer Payments
Real-time fraud prevention for all cashless payment systems
Join the data science revolution
IBM Safer Payments, the industry’s first true cognitive fraud prevention solution, brings agility to the fraud practice with its open source data science platform. The solution protects some of the largest and most complex payment portfolios in the world across all cashless payment systems, helping card issuers & acquirers, network operators and payment processors optimize for higher fraud detection and lower false positive rates.
Next generation approach
Enables you to use any data science, any machine learning, and artificial intelligence technique – from any vendor or open source – to outsmart fraudsters.
All channel solution
Includes specific functionality to protect cards, online banking, and real-time payments. Profiles behavior and payment flow through all channels for lower false positives and reduced fraud losses.
Freely configurable
Everything in Safer Payments is user-configurable. Full adaptation to customer data model. New data feeds can be configured in minutes.
Bring your own model
Build neural networks, random forests, decision trees, and regressions, using your preferred tools. Combine models of different types into ensembles, to leverage the best of each modeling technology.
In-memory NoSQL database
Purpose-built dual-access database technology delivers peak performances of multiple thousand transactions per second on commodity hardware and any cloud.
Multi-model and IBM Watson
Runs any number and types of fraud prevention models. Watson cognitive AI assists with creation of decision rules on how models are applied for specific transactions.