Insurance Carriers

Risk and Fraud Mitigation for Insurance carriers

In the dynamic insurance industry, various substantial challenges are prevelent: data integration, cybersecurity threats, regulatory compliance, and the increasing pressure of managing customer expectations. Additionally, evolving fraud tactics, increased customer demands, legacy systems, and complex resource allocation. These factors collectively intensify the challenges faced, underlining the critical importance of enhancing customer satisfaction to effectively mitigate the risk of customer churn.

In response to these difficulties, INFORM's enterprise risk and financial crime management solution represents an empowering solution to insurance carriers seeking to combat fraud and optimize their processes. Available as both a cloud-based (SaaS) and on-premise solution, it uses real-time Hybrid AI for dynamic risk assessment and flexible decision-making.

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Challenges 

  • The digitization of insurance processes exposes the industry to sophisticated scams
  • Fraudulent activities are getting smarter, requiring more effort and costs to fight against
  • Prevalent need for delicate balance between customers' expectations, security and compliance
  • Finding skilled professionals and efficiently allocating resources is a demanding task
  • Adhering to ever-evolving regulations poses an ongoing and demanding task for carriers

Catalyze your digital transformation with integrated data that provides actionable insights and ensures regulatory compliance. By bridging the gap between legacy systems and cutting-edge AI, INFORM’s offering optimizes resource allocation and elevates customer satisfaction with streamlined operations.

Our all-in-one solution modernizes insurance carrier operations, making them more resilient in the face of evolving challenges and sophisticated fraud techniques.

Real-time AI software enhances insurance fraud detection and risk control

Benefits

  • Minimized losses from suspicious claims thanks to real-time fraud detection capabilities
  • Efficient Claims Processing through automation and intelligent decision-making
  • Optimized resource allocation and improved processes based on claim types and risk levels
  • Enriched decision capabilities through combining knowledge-based expertise with data-based ML
  • Flexible deployment options with cloud-based (SaaS) and on-premise solutions tailored to your needs
  • Enhanced customer satisfaction with efficient services for today's digital-savvy clients

Success Stories

References
 

More than 250 companies in finance, insurance, and telecommunications protect their customers with the holistic risk & fraud solution portfolio offered by INFORM, including:

 

Overview of the customer logos of RiskShield references in the insurance industry

DISCOVER OUR Solutions for Insurance Carriers

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Claims Fraud Detection

Detect and prevent claims fraud in real time with RiskShield’s hybrid AI scoring, automation, and explainable decision logic.

A 3D illustration of two hands giving a thumbs up and thumbs down on contrasting turquoise and pink backgrounds, symbolizing automated risk decisions and portfolio evaluation.

Underwriting

Discover how RiskShield empowers insurers to accelerate underwriting decisions with AI-driven automation, real-time analytics, and consistent risk evaluation across portfolios.

Euro sign on shield symbolizes RiskShield's AML compliance expertise on Customer Watchlist Screening

Customer Watchlist Screening

Fast and reliable watch list screening for monitoring real-time payment transactions and customer databases.

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Know your Customer & Customer Due Diligence

Automate your KYC & CDD processes with RiskShield – for real-time monitoring, flexible rule management, and full regulatory compliance.

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Suspicious Activity Monitoring

Detect suspicious activity faster and with greater precision. RiskShield helps you reduce false positives, stay compliant, and handle AML cases efficiently – in real time and across all channels.

Sorting mandarins on a conveyor belt as a metaphor for Transaction Sanction Screening: RiskShield screens every transaction in real time, reduces false positives, and ensures compliance with EU, OFAC, and UN regulations

Transaction Sanction Screening

RiskShield Transaction Sanction Screening keeps your payments compliant in real time. Reduce false positives, meet global regulations, and protect your reputation without slowing down business.

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AML for Insurance

RiskShield AML for Insurance is your frontline defense against financial crime to meet regulatory demands without compromising on agility, efficiency, or customer experience.

DISCOVER OUR Information Material

RiskShield Paper on grey background: Ready-to-Use ML for Financial Crime

RiskShield Paper: Ready-to-Use ML for Financial Crime

Discover how RiskShield ML combines machine learning with expert knowledge to strengthen fraud detection. The solution automates model training, ensures explainable decisions, and adapts to new threats - empowering financial institutions to stay compliant and ahead of financial crime.

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Claims Fraud Detection in Real Time – Hybrid AI for Smarter, Faster Decisions

Discover in our paper how RiskShield detects insurance fraud in real time with Hybrid AI. Stop fraud faster and protect margins with explainable automation.

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Underwriting in the Fast Lane – Smart Risk Decisions for a Controlled Future

Discover how RiskShield enables faster, explainable underwriting with Hybrid AI. Make smarter, transparent risk decisions across insurance processes.

Brochure on grey background: RiskShield for AML Compliance in the Insurance Industry

Comprehensive AML Protection for High-Risk Insurance Products

Discover how our advanced AML compliance solution helps insurers navigate complex regulations with ease. This technology provides watchlist screening, customer due diligence, and suspicious activity monitoring, ensuring compliance with international standards like FATF and AML directives.

Find more interesting info papers, brochures, and other downloadable assets on RiskShield in our section Expertise. 

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