Survey Finds More Insurers Fighting Fraud with Data Analytics
According to a survey by Coalition Against Insurance Fraud, insurers are turning to analytics to fight insurance fraud which they believe is on the rise. Of the 84 carriers surveyed, 65% reported an increase in fraud over the past three years, 10% said fraud decreased and 25% said it remained the same.
Survey results also say that 21% of the carriers plan to invest in artificial intelligence. There has also been an increase in the use of unstructured data.
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