Insurance Fraud Detection with Big Data & Search
Discover Insurance Fraud in Real-Time. At Your Fingertips.
THE HIGH COST OF POOR FRAUD DETECTION SOLUTIONS
Financial losses due to insurance fraud can amount to billions annually. According to Health Insurance Association of America, every dollar spent on anti-fraud measures saves more than $11. How does your fraud detection software fair in the battle against increasingly sophisticated insurance fraud?
Does your special investigation unit (SIU) rely on business analysts to execute SQL queries against large data sets? Wait hours or days to receive the data? And have to repeat the entire process if additional questions come up? All of this can cost your organization significant time and money, and still can't guarantee solid evidence for prosecuting fraud.
Don't let fraud impact your bottom line! Using a search and big data solution for insurance fraud detection enables your SIU to accurately analyze signs of fraud with intuitive mouse clicks rather than tedious SQL queries.
FRAUD DETECTION WITH BIG DATA: ELIMINATE YOUR HEADACHE. SAVE YOUR BOTTOM LINE
Understanding the importance of reducing fraud as well as the challenge of mining evidence from a large volume of billing and claim data, our custom-built insurance fraud detection application focuses on delivering:
- Powerful and scalable big data platform: processes structured and unstructured data to analyze and detect suspicious patterns
- Affordable, secure open source Hadoop architecture: for high-performing content processing and indexing power combined with increased flexibility and cost reduction
- Predictive analytics: compare statistical patterns against previously known fraud schemes to find fraud indicators and create red flag alerts
- Intuitive, real-time dashboard: compiles and presents results from multiple data sources graphically in real-time, for immediate trend spotting
- Advanced faceted search and query suggestions: drill down to individual billing details and save time with auto-suggestions for common requests or trends
- No SQL knowledge required: investigators with no technical background can analyze the entire data set using a familiar search interface
- Immediate ROI through a big data powered fraud detection application
- Increased accuracy, speed, and agility with a predictive analytics and machine learning
- Reduced reliance on business analysts and SQL knowledge
- Timely legal case development with red flag alerting feature and direct access to evidence of fraud