Insurers make use of data science, analytics to combat insurance fraud

A study by insurance association Insurance Ireland and Accenture P.L.C. found that data science has helped local insurers detect insurance fraud, Silicon Republic reported. The rate of identification of potentially fraudulent claims had increased for 79% of respondents in the past 12 months, compared with 69% in the previous year. More than 80% of respondents said that an increased use of analytical tools helped them combat fraud. Nearly 75% of respondents said that a greater focus on investigations has helped them address cases of fraud.

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