In the field of insurance, vehicle insurance fraud detection is a vital technique for preventing and detecting fraudulent claims. AI and ML can use various methods to analyze large amounts of data from various sources, such as policy details, claim history, vehicle details, repair history, risk assessment details along with third-party details. AI and ML can then generate alerts when any vehicle insurance claim is classified as fraud based on some predefined criteria. Vehicle insurance fraud detection is a promising way to improve the quality and efficiency of insurance.
Early detection of fraud leads saving time and money
Insurance Companies/Government Department (RTA):