Insurers’ Fraud Detection Technology Budgets On The Rise

Insurers’ anti-fraud approaches are maturing, according to the latest biennial study by the Coalition Against Insurance Fraud and SAS.

The “State of Insurance Fraud Technology” survey, which reached 84 carriers, revealed that lead quality has dropped from a concern of two-thirds of insurers to one-third, the lowest level since the report’s 2012 inception. “This was the most surprising outcome of the 2018 study,” says Dennis Jay, executive director of the Coalition. “We believe it signals a maturing in how special investigative units [SIUs] use technology. Insurers have discovered that generating a large quantity of leads causes SIUs to expend significant resources that produce inadequate results.”