Fraud

The Defining Role of AI in Insurance Claims Fraud Detection

AI technologies have significantly reformed information systems by making them more adaptive to humans. Such technologies have improved the interaction between humans and computer systems. This way AI in the insurance industry has transformed the claims management process by making it faster, better, and with fewer mistakes. Insurers now have more evolved claims management and… Read More »The Defining Role of AI in Insurance Claims Fraud Detection

A Broad Understanding of the Prevalence of Fraud in the Banking Industry

If you keep yourself updated with news from around the world, you’d probably hear about bank fraud or ongoing cases related to such crimes quite often. That’s because banking and finance fraud has been a persistent issue for both consumers and organisations. Every year billions of dollars are lost to fraudsters who find new ways… Read More »A Broad Understanding of the Prevalence of Fraud in the Banking Industry

Enlightening Insights Into Insurance Fraud: Types, Challenges and Statistics

Insurance is essentially based on the principle of mutual benefit and is designed to safeguard against significant but uncertain circumstances. However, insurance fraud undermines this principle, as fraudulent activities and claims drain the money paid by many honest consumers. Insurance fraud has an indelible impact on both consumers and insurers. While technologies may have evolved… Read More »Enlightening Insights Into Insurance Fraud: Types, Challenges and Statistics