Insurance fraud is a growing and costly threat to insurance companies. Fraud, perpetrated by tech-savvy transnational criminal groups poses a huge economic threat to insurers as they constantly evolve their tactics and stay undetected by periodic audits. To combat this challenge, Coforge has developed an advanced and innovative solution – Digital Foresight which leverages real-time analytics, machine learning, and advanced data fusion techniques to predict and prevent fraud even before it occurs. By scanning and analyzing massive internal/external data streams, Digital Foresight identifies risk entities, fraudulent behavior patterns, and suspicious circumstances across the claim ecosystem. Digital Foresight empowers Insurance companies with early fraud detection capabilities, granular geographic fraud mapping, and adaptive thresholds to evade any chance of fraud.
