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MS & AD Insurance Group detects 2.5 times more fraudulent claims than industry average using machine learning
janhavi
Feb. 20, 2019
Summary:
MS & AD Insurance Group, one of Japan's leading insurers, has implemented Shift Technology’s FORCE solution to classify claims based on the probability of the claim being fraudulent. Force's machine learning algorithms have so far achieved a hit rate of 80% and have helped speed up claims processing for vast majority of customers.
Problem:
The company wanted a technology that will significantly improve their capabilities in detecting insurance fraud, and make them the insurers of choice by clients looking for fair and speedy settlements of insurance claims.
- Industry
- Insurance
- Function
- Operations
- Company Name
- MS & AD Insurance Group
- Vendors
- Shift Technology
- AI Technologies
- Link to usecase
- link