Claims and Fraud Detection
Saama Claims Analytics enables better claims processing, intelligent fraud detection and an improved customer experience. A significant differentiator of the Saama model is that it includes data from both structured and unstructured formats, including: agent notes, adjuster notes, data from social media, forums, customer data websites, weather data, and satellite imagery. Advanced data-mining and semantic algorithms are used to perform automatic crawling of social content and unstructured data.
Saama’s Insurance Fraud Analytics is now available on Microsoft Azure!
Saama Insurance Fraud Analytics in the Cloud
Big Data, Data Science-based Fraud Prediction
Saama Insurance Fraud Analytics allows claims to be analyzed from all angles not only by mapping policy level information, but by mapping a broad range of sources including: social media, internal claims history, claims notes, weather, telematics data, OFAC, and NetMap data, that enables a claims processor to get an immediate holistic view into the claim.
Our solution is built on our Fluid Analytics Engine (FAE) that processes and analyzes data exponentially faster than traditional databases. The ability to bring together a view that integrates a wide range of sources is the real power of the solution. Based on patented algorithms and data science, we have developed a powerful fraud score that quickly tells you which claims to focus on. We take that and a historical read on past patterns through machine learning to come up with a propensity score.
Closed-loop Cycle for Actionable Fraud Prevention
Our solution utilizes graphical link analysis that offer new variables that provide relationship context between events, exposing patterns and outliers that otherwise would be hidden. This reveals well organized fraud networks hidden within your big data generating the business outcomes with the speed and specificity that you need.
In addition, to the information on individual claims, the solution generates fraud prediction scorecards and dashboards that allow for regular monitoring of claims in process, and the potential risk associated with them. These dashboards give a powerful macro view and allow for full drill-down capability to the individual claim details.
Features and Benefits
- Enhanced claims operations
- Better fraud detection
- Improved supplier management
- Reduced loss-adjustment expenses
- Identified litigation claims
- Optimized payment
- Robust claims analytics
Microsoft’s Approach: Flexibility of the Cloud
Microsoft Azure is an open and flexible cloud platform that enables you to quickly build, deploy, scale, and manage applications across a global network of Microsoft data centers. You can build applications using multiple languages, tools, and frameworks.
- Provides a rich set of application services and let’s you build using any language, tool, or framework
- Is always on delivering a 99.95% monthly SLA
- Delivers hybrid solutions so you can manage your hybrid applications from a single console with Microsoft System Center
- Has global reach with data centers around the globe
Saama Fraud Analytics on Microsoft Azure