We have applied Relacio in claims and other situations in insurers in life and health, as well as auto insurance. The case studies covered geographic locations in North America, Latin America, Middle East and Asia. The diversity of these projects demonstrates the geographic- and market-agnostic nature of our solution.
Health insurers incur large financial losses to fraud, waste, and abuse in its claims. According to The National Health Care Anti-Fraud Association (NHCAA) in the United States, annual cost of fraudulent health claims is more than USD 300 billion. While…
Insurance product mis-selling is one of the key and consistent themes that regulators everywhere place a hawkish eye on. Mis-selling compliance is very complex for insurers as it involves many agents and large number of products. The buyer/seller dynamic is exceedingly difficult to monitor. While insurers place…
In the age of big data and AI, companies are re-discovering the value of their data. British mathematician Clive Humby proclaimed that data is the new oil. But companies must come to terms with the quality of the data they have. Most insurers have disparate systems which were not designed…
We are often asked by clients how much data is enough for AI analysis. People may have low confidence on the data they have. After all, insurers are not Google or Amazon, who has very large amount of digital and high frequency behavioral data on the customers. Let’s face it.…