Insurers Turn To Artificial Intelligence In War On Fraud
Wednesday, June 27th, 2018 Fraud Risk Management TechnologyFrom bogus claims to shady brokers, insurance fraud costs companies and their customers more than $40 billion a year, the FBI estimates. And that’s excluding medical insurance fraud, which is estimated by industry groups to cost tens of billions more. The staggering level of criminality costs us all, adding $400 to $700 a year to premiums we pay for our homes, cars, and healthcare, the feds say. There are simply not enough investigators to put a significant dent in the criminality, so the industry is turning to the machines.
External References & Further Reading
https://www.fastcompany.com/40585373/to-combat-fraud-insurers-turn-to-artificial-intelligence
