Anadolu Sigorta initiates a new project that aims to prevent insurance fraud by managing claims operations in a healthy and efficient way. As one of the first of its kind in the market, Anadolu Sigorta intends to prevent fraudulent auto claims and organized claims fraud.
The project will be conducted in cooperation with FRISS, a leading software company in Europe in this field. FRISS was selected as a business partner with its high R&D investments in the detection of insurance fraud, its committed focus on insurance market, and the fact that its platform can detect fraud in all insurance lines.
Insurance fraud is a cause of premium increase for the insurance market, as they result in significant losses by reporting fake claims or claims that are higher than the actual loss.
The goal is to provide highest-quality claims services
Being a significant part of Anadolu Sigorta’s digital transformation strategy, this project will also enable highest level of utilization for the data produced within the company. Musa Ülken, General Manager of Anadolu Sigorta, shared his opinions on the project and said: “Thanks to its advanced statistical models, the software can detect fraud risks accurately and in time through constantly updated business rules. In the future, we will be able to use the outputs of this software for claims, as well as customer selection and pricing.
As a result of this project, customer claims will automatically be finalized through a systematic filtering method. Therefore, our customers will experience the privilege of receiving fastest and highest quality services.”
The company aims to get the initial meaningful results of the project within six months.
Insurance fraud is a global problem
Turkey is not the only country dealing with insurance fraud. It is a significant global problem. Association of British Insurers (ABI) reports an annual insurance fraud of 2.1 billion EUR which cannot be detected; while The German Insurance Association (Gesamtverband der Deutschen Versicherungswirtschaft - GDV) states that insurance fraud in Germany costs more than 4 billion EUR on an annual basis.
