Scheduled for release later this year, NetDetect scores claims for potential fraud — not just at first notice of loss — but throughout the claims lifecycle.
The announcement was made at IASA 2000, the Insurance Accounting and Systems Association annual conference.
“Because NetDetect is an expert system, it evaluates and scores all claims without slowing payment of those that are legitimate,” said NetDetect Product Manager Matthew Rice. “The information it delivers includes not just which claims exceed your suspicion threshold — but why.”
NetDetect weights and scores each claim’s attributes against a rules base of known indicators that can point to fraud. This proactive scoring technique comes into play throughout the claims process, updating each claim’s score as new information is available.
Was this article valuable?
Here are more articles you may enjoy.
Washington Commanders Player Scores Workers’ Compensation Win 
Amazon Seen as Shielded From Liability for Miami Cargo Plane Crash 
GEICO Avoids Class Action Over Totaled Vehicle Payouts in New Jersey 
Viewpoint: After 3 Years of Retreat, Insurance Capacity Is Returning to California 
