New research shows AI tools can flag potentially fraudulent property and casualty claims just two weeks after filing, outperforming traditional investigation methods.
With advanced analytics and pattern recognition, AI could help P&C insurers save up to $160 billion annually by detecting both soft and hard fraud more effectively.
A former Alfa Insurance agent in Warner Robins faces federal charges for allegedly directing a client to withdraw $220K, which he used to pay others’ insurance premiums.
Three current and former Rikers Island correction officers are accused of faking on-duty injuries to claim nearly $1 million in workers’ compensation benefits.
A former assistant city manager in La Cañada Flintridge faces 34 felony charges for allegedly diverting nearly $200,000 in insurance claim checks to his personal account.
A federal investigation into a sweeping health insurance fraud scheme that began in Reading, Pennsylvania, highlights how scammers stole millions from thousands of victims nationwide.
A multiyear investigation by the Pennsylvania Insurance Department led to the indictment of four businessmen and two companies for defrauding consumers across the U.S.
A Salt Rock resident faces multiple felony charges after admitting to using more than $20,000 in workers’ comp benefits sent in error to his deceased relative’s account.
AI-powered multimodal tech is helping property and casualty insurers detect fraud more accurately across the claims cycle, potentially saving billions and lowering premium costs.
A McAllen, Texas escrow officer was sentenced to 24 months in prison for wire fraud after falsifying real estate documents and defrauding lenders and buyers of over $350,000.
Over 100 Amtrak employees joined forces with medical providers in a fraudulent health insurance scheme that cost the company more than $12 million, a new report finds.
While most U.S. insurers use technology to detect claims fraud, fewer are leveraging these tools for underwriting or internal fraud, a new survey reveals.
Organized cybercriminals, including foreign nation-state actors, are exploiting U.S. aid programs using stolen identities, with losses potentially nearing $1 trillion annually.
Prosecutors say a sophisticated criminal network used social media to resell 126 stolen cars in a multi-state operation that spanned from New York to Tennessee.
Allstate partners with the Chicago Quantum Exchange to explore how quantum computing could transform risk analysis, fraud detection, and customer service in insurance.
