Viewing the Matterhorn from the beautiful Swiss city of Zermatt can be unbelievably intimidating. While on a recent trip to the area, I had booked a rock climbing adventure that would take me within the throws of this legendary mountain. The night before the trip I recall gazing at the mountain from Zermatt and wondering what I had gotten myself into. The next day’s excursion was one of the most challenging, yet exciting and invigorating adventures I had ever been on. In hindsight, I was intimidated, almost to the point of deterrence, simply by the visual presence of the mountain and what I had heard and read about it. This is exactly the mind-set we want to impart on our fraudsters, deterre
In this blog I will discuss some of the most important topics to consider when addressing issues of data analytics as a fraud tool. Feel free to provide feedback on what you have seen successes in and what areas are still opportunities for you. There are significant gains for companies that leverage data analytics. Carriers that use data analytical platforms will undoubtedly maximize their fraud detection capabilities and streamline this process with significantly reduced efforts. Having one analyst that is trained in this area and leverages the power of analytics can analyze and manage a significant number of claims; claims that would normally have to be reviewed using slow manual methods.