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New research shows insurers’ rapid adoption of predictive algorithms and digital identity technology to stem the pandemic-driven fraud deluge.
Insurers’ use of predictive analytics to fight fraud has reached an all-time high, according to the latest insurance fraud technology study by the Coalition Against Insurance Fraud and analytics and AI leader SAS. The State of Insurance Fraud Technology study reveals that 80% of insurers use predictive modeling to detect fraud, up from 55% in 2018. In a category new to the 2021 survey, the study also underscores the importance of identity verification software, cited by 40% of survey respondents. Identity analytics is quickly becoming must-have technology for insurers amid an alarming spike in malicious phishing scams, up 600%...
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