Insurance

The Symbiotic Dance: Reinsurers and MGAs in a Dynamic Insurance Landscape

The insurance industry is a complex ecosystem where risk is transferred and managed through various layers. At the forefront of specialized risk underwriting often stand Managing General Agents (MGAs), and behind the scenes, providing crucial financial backing and stability, are reinsurers.

Avijit Datta In AI, Analytics, Insurance, Risk Management, Risk Mitigation

Navigating the Future: How MGAs and Smaller Insurers Can Use AI to Predict Catastrophes and Mitigate Risks

In a world increasingly shaped by the unpredictable forces of nature, the insurance industry stands at a crossroads. The rising frequency and severity of natural disasters have compelled insurers to rethink their strategies. In July 2024, State Farm made headlines by dropping 1,600 policies in…

Fan Yang In Fraud Detection, Growth Opportunities, Insurance, Other

Porsche Westlake’s Services Director, Sam Abregel, Addresses Auto Warranty Fraud

We sat down with Porsche Westlake’s Service Director, Sam Abregel, to address 8 categories of warranty fraud to watch out for. Given the vast amount of transaction data and the presence of anomalous patterns indicating fraudulent activity in these categories, there is a huge opportunity…

Sierra In AI, Healthcare, Insurance

Understanding Healthcare Claims & Fraud: An Unfortunate Certainty

Healthcare claims are an inviting and alluring target for fraudsters due to their huge monetary value. In 2017 alone, HHS and DoJ recovered around 2.5 Billion Dollars in claims fraud. And that is just one year. The challenges facing healthcare payers are manifold as they…

Sierra In Anomaly Detection, Financial Services, Healthcare, Insurance, IT, Machine Learning

Why Anomaly Detection is Important

With data driving most business transactions, it is essential to analyze and interpret patterns in behavior correctly. NEMESIS, an anomaly detection tool powered by machine learning, can detect and predict against abnormal behaviors in data that signal threats of risk and fraud.

Darshana Daga In Finance, Financial Services, Fraud Detection, Growth Opportunities, Insurance

Leveraging Digital Technology To Unearth FinTech Fraud

As the volume of online transactions continues to grow exponentially, there is a new quest for enterprises to start new channels of business, gain more online presence, retain existing revenue streams, and stay relevant to current technology. Many organizations are unable to detect patterns related…

Darshana Daga In Finance, Financial Services, Fraud Detection, Insurance, Operation

Top 5 Fraud Cases Of 2019: Looking Back

Fraud isn’t something new, but it is becoming more complex and sophisticated. From bribing exam administrators to CFOs conducting unethical transactions, these five fraud cases were some of the most shocking for 2019.