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AI Fraud & Investigation Solution

‘Next Generation Solution’ Connect, visualise and analyse data to identify and stop fraud

The Challenge

 Detecting and preventing fraud is a global challenge for all Companies and fighting fraud is often undertaken in a reactive rather than proactive manner, resulting in potential leakage across the various business functions. 

To better mitigate the fraud risk, most Insurers now accept that they need to engage ‘data analytical’ solutions to undertake fraud assessment reviews that enhances detection rates and provides actionable insight. 

However, we discover all too often, that insurers encounter various internal challenges when implementing and utilising such tools. The challenge of unifying data from multiple sources and structures, with security access complexities, hugely restricts their ability to effectively combat fraud. As a result, opportunities for fraud analysis and/or automated actions are completely missed.

The Solution

 The DataWalk platform provides the user with an ‘all-inclusive’ forensic – process, detection, and analytical solution, with enhanced AI capability. The platform can create a ‘single customer view’ across all relevant data for subsequent analysis, empowering claims teams, analysts, and investigators to intelligently prevent fraud.

This ease in configuration for the platform helps insurers overcome the challenges of implementing new solutions and quickly optimises process efficiencies and claims automation opportunities, thereby resulting in huge cost savings and a rapid ROI. 

Key Features & Main Benefits

Fraud Protection

End-to-end fraud protection through-out the claims and policy lifecycle.

Support Fraud Triage

Ability to support fraud triage at FNOL with integration to Claims System.

Data Connection

Easily connect all your internal and external data.

Investigate

Investigate more frauds with false positive rates <10%.

Accelerate

Accelerate or even eliminate triage.

Investigations

Dramatically accelerate investigations.

Simplify

Vastly simplify data preparation.

Tools

Suite of investigation tools to support investigation activities..

Rapidly Deploy

Rapidly deploy the solution with fast ROI and minimal IT support required.

Easily Create

Easily create and tune your own rules and scores.

Business Independence

Create business independence with minimal IT support required for rules, scoring, queries and data extraction.

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Fuse Data, Detect Issues & Perform Investigations 10X Faster!

Across the insurance industry there is a drive to implement pro-active fraud detection solutions.

This enables insurers to prevent fraud at a much earlier stage in the policy lifecycle, as when it comes to the claims stage it is often too late to take mitigating action.

Insurers need to be pro-active in order to reduce their fraud losses and ‘steal a march’ on the would-be fraudsters.

Risk assessment is essential throughout all stages of the policy and claims lifecycle but are you maximising the benefit by assessing all aspects of the risk to include repair shops, recovery agents, people, brokers etc., and manage that risk accordingly.

Product Overview

DataWalk is an Enterprise-class software platform for rapid data blending, analysis, and investigations.

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A ‘Next Generation’ fraud detection and Investigation solution, which is used by both leading Insurers, law enforcement & government agencies.

The Polish Insurance Company achieved a 90% detection rate and ROI within just 2-months. 

Rapid deployment saw the platform fully implemented within just 6-months.

Product Technology

DataWalk is a full-stack analytics platform that delivers compelling benefits via unique, patent-pending technology.

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DataWalk is a highly flexible platform and does not limit insurers to deployment in just a single line of business.

Although, in recent years, motor insurance has been the most popular area to apply analytical solutions, DataWalk’s exceptional capabilities can be adapted for any product line from life insurance to commercial, home or pet insurance the possibilities are endless.

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DataWalks’s Solutions

The solution applies AI, Machine Learning and flexible rules-based technology to assess the likelihood of a case being fraudulent.

The system returns a single ‘adverse fraud score’ which can be applied to both automate ‘high risk’ referrals for investigation or fast-track ‘low risk’ claims for straight-through processing.

DataWalk has significantly reduced the false positive rate to (<10%) for clients across a variety of insurance product lines.

The system can be used as an ad hoc investigation tool as well as a platform to ingest data in different formats from various sources, creating a ‘single customer view’. 

Its combined capability reduces the need to deploy multiple solutions. 

  • Anti-Fraud

DataWalk anti-fraud software includes fraud detection with up to 90% accuracy and comprehensive fraud investigation capabilities. DataWalk anti-fraud software includes the foundational capabilities of enabling you to import and connect data from all of your internal databases and external data sources to a single data repository; and then being able to easily generate rules, scores, link charts, and reports based on that unified view of all your data.

  • Anti-Money Laundering

DataWalk anti-money laundering analytics software enables FIU analysts to quickly identify, prioritize, and investigate money laundering and fraud cases. DataWalk’s next generation end-to-end anti-money laundering analytics software combines expert rules, Machine Learning and investigative capabilities to quickly and efficiently identify and investigate money laundering schemes, as well as high-risk transactions, entities and events.

  • Law Enforcement

DataWalk is a multi-user software platform that enables analysts and investigators to dramatically accelerate the generation and sharing of intelligence results. DataWalk enables you to connect ALL data in one place for access and analysis. This can include your internal databases, public records data, social media data, website content, other OSINT sources, and anything else. This enables you to generate better results, much faster, by eliminating the time and risk of error.

Insurance Resources

Law Enforcement Resources

SAICB – South African Insurance Crime Bureau

Find out how we can help you

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