The fight against insurance fraud is often an “after the event” issue, with insurers and lawyers battling it out with possible fraudsters in court. However, what if we could get to the fraudsters as soon as a claim is made?
That is what global insurance law firm Kennedys is hoping will be achieved after it reached the culmination of a two-year collaboration with the University of Manchester. Together they have implemented a next generation fraud prevention software that supports insurance claims handling through data analytics, machine learning, intelligent modelling methodologies and semantic technologies. Now, Kennedys wants to extend this into a separately funded project with the hope that it will go beyond fraud and also encompass the automation of all claim outcomes.