Insurance Times Awards 2022: ‘Innovative fraud predictive model’ helps Ageas’ handlers pinpoint fake claims

Explain briefly about your entry in the Excellence in Technology - Fraud Claims category.

For our entry this year, we’ve decided to showcase our standout capability in our internally developed, innovative fraud predictive model.

This works by increasing the capability of claims data by using analysis and technology combined with machine learning and artificial intelligence to leverage greater value from our vast data vault and external data. In other words, this model helps us to reduce fraudulent claims.

This predictive model has positively impacted the business because it helps all our handlers to identify fraudulent claims.

We use advanced analytics, bespoke data models and external data to learn from previous outcomes to identify potential fraud. This empowers our handlers, helping to fast track their learning and ensuring they become more vigilant, while also providing consistency throughout the claims journey.

What do you think makes your entry stand out or different from your competition?

Research shows that market-leading techniques of modelling, data science, analytics and machine learning can transform how we work - and this has been proven to be true.

Our fraud predictive model boosts our fraud detection, making claims decisions significantly faster and ultimately protecting our genuine customers and contributing to cheaper premiums for them.

What would winning this award mean to you and your firm?

Winning this award would mean that our commitment to innovation and problem solving through technology and data has been recognised.