Fraud detection and prevention can reduce fraudulent claims for up to 40%!

Gartner


Fighting fraud > Why fight fraud?





THE ECONOMICS BEHIND THE IMPLEMENTATION OF THE FRAUD DETECTION SYSTEM

The economics behind fraud detection and resolution is straightforward; the objective is to reduce losses incurred to the company by fraud. One option is to do it »manually« - the company carefully checks a certain number of randomly chosen claims on a monthly basis. However, the company is much more successful if it deploys software solutions in order to detect fraud. The computer system automatically checks all claims, thus the company is much more successful in fraud detection. In addition, the Admiral system improves the efficiency of the company, because the system guides the supervisor and thereby facilitates the work process. The savings then depend on the success of fraud detection and the efficiency of fraud resolution.