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Insurance Industry: Fraud Detection and Prevention
The Challenge
Insurance claims flowed in non-stop, some of the claims were genuine, others in-correct, with possible frauds.
The Solution
We integrated a Gen AI-based fraud detection system on our clients web portal. This analyzed patterns, flagged anomalies, and detected warnings. The real policyholders felt relieved.
The Outcome
Fraudulent claims shrunk by 40%, reduced losses. Increasing customer retention to all time highs.
ROI delivered nearly 30% reduction in fraud-related costs.
