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. The essential recipe: 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.

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
  • 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 Information Material

Visualization of the Info Paper "Optimize your Claims Handling Processes with AI"

Optimize your Claims Handling Processes with AI

Dive into the complexities of claims management and discover how RiskShield's hybrid AI approach transforms processes for insurers.

Visualization of the Info Paper "Fighting Financial Crime with Hybrid AI"

Fighting Financial Crime with Hybrid AI

Explore RiskShield's Hybrid AI Approach, combining knowledge-based AI with ML to revolutionize financial crime prevention.

Visualization of the Brochure "RiskShield Case Management"

RiskShield Case Management

Dive into RiskShield Case Management, a browser-based solution offering powerful investigation tools, workflow control, and collaborative features for efficient risk management.

Visualization of the Brochure "List Managementy"

RiskShield List Management

Discover the power of RiskShield List Management for efficient risk assessment. Explore our comprehensive solution for managing custom lists across diverse business channels.

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