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Stop revenue losses due to insurance claims fraud

Prevent fraudulent claims

Every year insurance companies face the daunting task of sifting through millions of transactions to stop the billions in losses due to fraud.

Both individuals and organized crime rings rely on schemes like identity theft, false worker’s compensation and medical claims, social security fraud and intentional vehicle accidents to scam millions.

Alessa uses advanced techniques like machine learning to detect suspicious claims and fraudulent activities that trigger investigations before being paid out.

How Alessa helps insurance companies detect and prevent losses

Transaction Screening

Monitor all transactions and investigate suspicious activities before processing claims

Advanced Analytics

To detect complex fraud schemes across departments and systems

Risk Scoring

Configurable assessment of vendor and customer risks based on profile and activity

Reduce losses due to fraud

Studies estimate that fraud accounts for up to ten percent of incurred losses and loss adjustment expenses by the insurance industry. Alessa helps to significantly reduce these losses and exposure and enables insurance companies to keep their premium rates low.

 

Comply with legislation

In many jurisdictions, insurance companies are required by law to set up programs that identify fraud and take actions to reduce it.

Prioritize investigations

Use the risk scoring functionality within Alessa to identify the highest risk transactions and prioritize activities of assessors and special investigation units (SIU).

 

Be competitive

Reducing losses due to fraud, identifying and mitigating against risks and prioritizing the efforts of staff help to reduce operational costs and premiums for brokers and clients.

Alessa can help stop fraudulent insurance claims

Learn how we use technology to stop waste, abuse and fraud in your organization