The Smarter way to fight fraud

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      <subfield code="a">In todays challenged market, insurers can no longer accept the 10 percent of their incurred losses leaked through fraud as a cost of doing business. No longer should the primary defence against fraud be limited to educating the claims handlers on what to look for and staffing a special investigation unit. While these are still necessary activities, they are not sufficient to reduce the significant cost of fraud. The time has come to leverage technology that is available and affordable to implement a comprehensive smarter claims fraud program that not only identifies fraud, but predicts, and ultimately prevents, fraud from occurring in the first place. Having sufficient data to prosecute is not always required to prevent fraud. Sometimes just letting perpetrators know that you are aware of them can cause them to shift their attention to easier targets and insurers who do not have the same level of sophistication</subfield>
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