Fraud Detection
Enabling Smarter detection of Fraud using Robotic Process Automation
THE PROBLEM
Our Client is a mid size insurance provider in the East Coast. They were using paperless initiatives, but still had to deal with a lot of paper-based processes. With more transactions moving online daily, one of the biggest challenges they faced was that they were unable to identify suspicious claims. They faced financial losses leading to frustration due to inability to handle peak volumes of data and delay in customer service. They were in dire need to detect fraud claims, prevent them , remove operational hassles and improve their customer experience.
Our Solution
Pursuit leveraged it’s RPA’s Machine Learning capabilities to create business rules that were unique to the client. The pre-scanning of the claim process and validity verification was automated. Our Advanced analytics helped in mapping out the identity of the customer, and detecting any linkages to fraud or any suspicious behavior patterns. The claimant’s profile was checked using cross references from different platforms using social media analytics. Our analytics also helped insurers validate larger cases within a short period.
The Outcome
