Growing competition and economic difficulties are placing increased pressures on insurance companies to control cost and prevent losses proactively. Fraudulent claims are a major contributor to losses in this industry, and most insurance companies are seeking advanced predictive analytics to detect and mitigate fraud before it happens.
StatSoft provides a comprehensive Fraud Detection Solution that uses proven predictive analytics and a robust platform to detect anomalies and characteristics of fraudulent claims proactively. These concerns can also be flagged as new claims come in, enabling real-time fraud detection.
- Leading-Edge Predictive Analytics: Sophisticated algorithms to build models that provide the highest accuracy and best ROI.
- Enhanced Text Analytics: Advanced text miner tool leverages unstructured/textual data such as claim notes within the model building process.
- Enterprise-Wide Solution: A multi-user, role-based, secure STATISTICA Enterprise platform allows for a truly collaborative environment to build, test, and deploy the best possible models for fraud detection.
- Reflexive Models for Real-Time Needs: Live Score® processes new claims as they happen and updates fraud models in rapid turn-around times made possible only by STATISTICA’s integrated solutions.
- Integrated Workflow: STATISTICA Decisioning Platform® provides a streamlined workflow where business rules and industry regulations are used in conjunction with advanced analytics to build powerful predictive models.