AI Use Case
Enhance insurance customer fraud detection by assessing behavioural data
Enhance insurance customer fraud detection by assessing behavioural data from multiple sources. Potential fraudsters can leave clues, including historic behaviour, that an automated system is better placed to trace, capture and analyse.
Risk reduction - Evaluate counter-party risk (eg credit scores),Cost - Fraud reduction
MS & AD Insurance Group~MS & AD Insurance Group detects 2.5 times more fraudulent claims than industry average using machine learning,Direct Line Insurance~Direct Line Insurance uses machine learning to automatically flag fraudulent claims in automotive section with 75% hit rate
Structured / Semi-structured,Time series
Machine Learning (ML),Traditional AI,ML Task - Grouping - Anomaly Detection,ML Task - Prediction - Binary Classification,ML Task - Prediction - Multi-class Classification
Shift Technology,Shift Technology