AI
Delivering effective analytics with limited or no ground truth
Insurance companies are continually subjected to questionable claims, whether that be actual fraud, waste, or just abuse. Insurance fraud in the U.S. alone represents a USD 32 billion in P&C and USD 84 billion in health care costs per year loss to insurance companies. Each carrier has tens and even hundreds of thousands of claims processed, yet […]
AI
The importance of analytic insights for claims fraud prevention
149, 542, 782, 974 . . . what do those numbers mean to a claims handler or to an investigator? When analytics programs evaluate claims and/or other insurance objects such as policy holders, body shops, providers, etc., the analytics generate a score to reflect the level of risk of the evaluated objects. That score is […]
AI
Top 5 takeaways from the digital compliant client lifecycle journeys webinar
The pressure on financial institutions to become more efficient, comply with new regulations, and compete with novel technologies and entrants is growing. Financial firms are looking at uncertain conditions due to COVID-19, as well as related increases in financial crime and fraud. The IBM Customer Lifecycle Management (IBM CLM) with Fenergo solution is designed to […]
Delivering effective analytics with limited or no ground truth
Insurance companies are continually subjected to questionable claims, whether that be actual fraud, waste, or just abuse. Insurance fraud in the U.S. alone represents a USD 32 billion in P&C and USD 84 billion in health care costs per year loss to insurance companies. Each carrier has tens and even hundreds of thousands of claims processed, yet […]
The importance of analytic insights for claims fraud prevention
149, 542, 782, 974 . . . what do those numbers mean to a claims handler or to an investigator? When analytics programs evaluate claims and/or other insurance objects such as policy holders, body shops, providers, etc., the analytics generate a score to reflect the level of risk of the evaluated objects. That score is […]
Top 5 takeaways from the digital compliant client lifecycle journeys webinar
The pressure on financial institutions to become more efficient, comply with new regulations, and compete with novel technologies and entrants is growing. Financial firms are looking at uncertain conditions due to COVID-19, as well as related increases in financial crime and fraud. The IBM Customer Lifecycle Management (IBM CLM) with Fenergo solution is designed to […]
IBM Safer Payments recognized as ”Fraud detection and prevention product of the year”
On its 25th anniversary, Risk.net Asia recognized IBM Safer Payments as “Fraud detection and prevention product of the year.” This recognition is a testament to the IBM RegTech team’s commitment to bringing next generation risk and compliance solutions to serve clients across the globe and also to meeting geo-specific industry and business needs. IBM Safer Payments […]
IBM Financial Transaction Manager announces ISO 20022-ready High Value Payments offering
New high value payments solution offering IBM Financial Transaction Manager (FTM) has announced its new High Value Payment (HVP) offering. This new HVP offering supports banking clients participating in new real-time gross settlement systems in Europe such as Target2 migration to ISO 20022 by end of 2021. Over 3,000 financial institutions worldwide offering SWIFT cross-border […]
Powering digital compliant client lifecycle journeys with artificial intelligence
Digital transformation trend is ramping up The COVID-19 pandemic outbreak, over the last few months, has significantly impacted financial institutions and organizations across the globe. The FIs have been propelled into a new world of managing and serving customers. Digital transformation is ramping up with an immediate requirement to provide digital remote account opening and […]
How to stay ahead of insurance fraud in the new normal: 6 analytics techniques to monitor claims data changes
Introduction IBM has sponsored two virtual roundtable conversations where industry experts share views, examples and tips on the impact of COVID-19 on insurance fraud. If you haven’t seen them, you can catch the replays on demand at COVID-19: Responding to the threat of fraudulent claims and How can the Insurance Fraud Industry stay ahead of […]
Announcing new capabilities in Financial Crimes Insight for Claims Fraud 6.5.1
Financial Crimes Insight for Claims Fraud 6.5.1 release On June 19th, 2020, IBM released Financial Crimes Insight for Claims Fraud 6.5.1. This release is the result of approximately an 8-month design partnership with an insurance carrier in the U.S., delivering many significant updates. The Financial Crimes Insight for Claims Fraud solution is designed to help […]
What’s new in OpenPages with Watson 8.2 release
Introducing IBM OpenPages with Watson 8.2 release IBM is excited to announce the availability of IBM OpenPages with Watson version 8.2, a dramatic upgrade that brings additional functionality and automation to the product, all of which is designed to ease and streamline governance and compliance processes within financial institutions and beyond. IBM OpenPages with Watson […]
The role of technology as the backbone of AML and KYC processes
Technology has played a pivotal role in empowering the fight against money laundering, tax evasion and drug trafficking – all manner of financial crime. And even though the role of technology in fighting financial crime keeps growing we are actually just at the start of what’s going to be the next wave of technology. It […]
How GRC sustainability can help support cost efficiency
Sustainability and resilience are about how an organization designs and carries out strategies that can be adaptable to help address long-term global trends, crises, threats, changing regulations or customer needs. As the requirements for success change, so can the enterprise. In this current pandemic many organizations should ask business continuity questions about capacity, bandwidth and […]