Fraud prevention in the auto-insurance.

Global Experian Solution for fraud prevention.  Implements complicated cross-checking algorithms for identifying data mismatch and inconsistencies in applications for certificates of insurance and claims to compensation for losses under CASCO/CMTPL (Compulsory Motor Third Party Liability).

Predominately checking against current and previous applications to identify multiply applications from the same applicant and by cross-checking against known fraud and suspect information.

Entire life cycle of the CASCO certificate is kept up as:

  • Quote – certificate issuance;
  • Subsequent  quote - additional agreements under the certificate;
  • Loss – an insurance case, compensation for losses.

Special rules were set up in the system to identify fraud risks at each stage. As part of the response a service participant receives the information on the worked out rules and comprehensive assessment in scoring for a fraud risks.

The service allows you to achieve the following objectives:

  • Refusal to work with "questionable" clients (identify high-risk clients and revise financial arrangements with them)
  • Adjustment of the insurance premium (reduce premium for "non-questionable" clients and revaluate it for "risk-related" clients has a positive effect on the portfolio quality);
  • Reduction of payment amounts (identify additional information on high-risk applicants, vehicles, and etc., with a view to waiver);
  • Prioritization of work on the basis of risk indicators (use risk indicators focuses efforts on applications requiring additional processing);
  • Processes automation (reduce costs by decreasing the quantity of applications requiring manual processing).

Advantages of the service:

  • Unique solution that has no equivalents in the Russian market;
  • Online or batch processing;
  • Basic functionality of the local solution on the company data in addition to the national search;
  • Full-fledged retro testing;
  • Score for fast clients’ segmentation;