Software provider Cincom has launched a Fraud Indication Solution that it said would enable insurance companies to highlight possible fraudulent claims at the initial point within the claims process.
Cincom said its software would analyse the information provided by a claimant to identify possibly fraudulent claims, classifying them as fraudulent, borderline or valid.
Cincom said one way the software would identify possible fraudulent claims would be to automatically search its database for the number of claims made by a certain customer, or claims relating to a particular contact number or address.
If the number was unusually high, the claim would be flagged up for attention, said Cincom.
The company said the claims identification system could be applied by all claims handlers and did not need specific IT expertise. The system also reduces the need for in-depth training associated with other fraud identification systems, said Cincom.
It said the Fraud Indication Solution has a management platform that enables companies to capture trends in fraudulent claims, reduce business risks and optimise operational performance.
Cincom business solution group manager Paul Boggis said: “A few insurance companies have recently resorted to some extreme and costly measures, like introducing voice stress analysis technology, in order to detect fraudulent claims.
“We believe a large percentage of fraudulent claims can be identified more cost effectively using the data provided by the claimant.”
