Predictive Analytics is a breakthrough in the battle against waste abuse and fraud
Insurers think Predictive Analytics is major breakthrough in their battle against waste, abuse and fraud.
Premiums in the United Arab Emirates currently amount to over $9 billion. WAF has become one of the main reasons for this uncontrolled and at times unjustified growth. Existing rule based systems for fraud detection are not in a position to identify fraudsters and prevent losses insurance companies are incurring. Insurers are seeking more adequate and efficient alternatives for fraud detection and loss prevention.