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Vehicle insurance — Fraud detection
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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.

Benefits

Early detection of fraud leads saving time and money 

Implementations

Insurance Companies/Government Department (RTA):

  • Offer personalized customer service 
  • Manage transaction processing
  • Prevent fraud.
  • Educate customers
  • Send reminders.
  • Lower employee turnover
  • Upsell and cross-sell
  • Learn about customer sentiment