Zurich to tackle claims fraud and rising costs with new data solution
Insurer Zurich has teamed up with Carpe Data, a California-based company, to automate and accelerate its claims processes.
The insurer claims that Carpe's innovative use of alternative and emerging data provides it with improved claims processing efficiency and a major advantage in fighting fraud.
Zurich uses Carpe Data’s innovative claims monitoring solution ‘ClaimsX’ to leverage publicly available web data for real-time assessment and automated decision making, from first notice of loss to settlement. Through ClaimsX’s highly predictive online content, Zurich proactively audits injury claimants and identifies cases where the claimant's profile is at odds with the claim presented. This not only stops fraud in its tracks, but also allows legitimate claims to be paid faster.
After a successful pilot in 2019, Zurich UK is now implementing the solution at scale in 2020. “Carpe Data is the latest addition to Zurich’s ongoing innovation programs focused on transforming the future of insurance,” said Zurich head of claims fraud, Scott Clayton. “[Carpe Data] supports Zurich’s ongoing efforts to improve the claimant experience by expediting low-risk claims, and by providing new insights to help our people make informed, accurate, and timely decisions.”
Geoff Andrews, Carpe Data COO and co-founder, said: “Data and technology play an integral role in catalysing change across the insurance industry, and Zurich recognizes that. We’re excited to join forces with such a globally-minded and forward-thinking partner to streamline claims and bolster their fraud prevention efforts.”
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze