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Sandra Bleck
Sandra Bleck

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Learn how the Württembergische Insurance Group finds RiskShield the ideal solution for identifying fraudulent claims in the auto insurance business.

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Auto, Property and Liability

Optimize your claim evaluation process and fraud prevention

 

RiskShield is the software solution for intelligent claim evaluation. As a rule-based expert system, our decision engine automatically assesses the fraud risk of a reported insurance claim. The software’s decision components are used in more than 25 insurance companies in Europe and North America for automatic claim evaluation and fraud risk assessment. An insurance claim automatically classified by RiskShield as inconspicuous can be settled faster and is more cost-effective, thus strengthening customer loyalty.

 

RiskShield automatically assesses the fraud risk of incoming claims and can operate as fast as 5,000 claim events per second using INFORM’s software. The solution incorporates proven technologies such as fuzzy logic, business rules, pattern recognition based on dynamic profiles and external lists and databases to score claims quickly and effectively. Business rules can be enhanced and developed as new fraud patterns emerge. These new rules can be deployed in real-time by fraud specialists of insurance companies themselves without any IT support or system downtime.

 

"We like that RiskShield defines rules linguistically so that we are better able to understand which rules affect a claim’s score.”

Wolfgang Schwehla, Head of SIU Motor - Württembergische Insurance Group

 

With our intelligence claim evaluation software, insurance companies can identify and process legitimate claims automatically and flag potentially fraudulent or complex claims that likely need to be routed to a corresponding group for further investigation.

 
RiskShield for insurance claims optimization

The benefits of RiskShield:

  • Prioritize the claim settlement process and prevent fraud losses before payment.
  • Automatically assess the fraud risk of a reported insurance claim.
  • Utilizes a unique combination of pattern recognition based on dynamic profiles and fuzzy logic, it enables self-maintaining and self-learning fraudulent claim detection.
  • Proven technology for claims scoring and fraud risk assessment protecting the largest insurers worldwide, including AXA, GEICO and Zurich.
  • Open, transparent and user-friendly decision algorithms that can quickly adapt to new modus operandi of fraudsters.

 

 

Customer References

Some of our key references in claims optimization and fraud detection

Zurich Insurance Group W&W AXA
WGV Versicherung Helvetia Versicherung Mobiliar

For more information about how RiskShield can help fighting insurance fraud please contact us for a live demo or presentation.