Detecting and Reducing Cost of Fraud Rings
Detecting and Reducing Cost of Fraud Rings
3 Pages© 2014 SAFFRON TECHNOLOGY CASE STUDY BACKGROUND The insurance industry estimates that 10 to 15 cents of every dollar paid in premiums goes to paying fraudulent claims, totaling more than $1.3 billion each year. In fact, nearly $80 billion in fraudulent claims are made annually in the United States. Within the insurance industry, fraud can span from opportunistic individual claims to organized multi-million dollar rings that involve staged
