New York proposes guidance governing insurers’ use of AI
New York State is proposing guidance for insurance carriers to prevent unfair discrimination in their use of artificial intelligence and external...
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Technology is creating new fraud frontiers – but consumers don’t want AI to protect them
Key Findings: ComplyAdvantage has launched its annual report into fraud, money laundering, and financial crime: The State of Financial Crime 2024....
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Govt says biometrics used to aid and abet massive health insurance fraud in Kenya
A report recently released by Kenya’s Health Cabinet Secretary Susan Nakhumicha, has unveiled extensive fraud within the country’s National Health Insurance...
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Is AI is revolutionizing the insurance market?
The insurance industry, historically characterized by manual processes and conservative risk assessment, has seen a remarkable transformation in recent years with...
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How big data transforms the insurance sector
In 2022, the insurance industry made a whopping USD 6 trillion globally—more than the entire economy of big countries like Japan...
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Better identity verification: The key to combatting the industry’s $300B fraud problem
Fraud and cyber-attacks in the insurance industry have risen dramatically over the past few years. With highly sensitive data at the...
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Allianz unveils machine-learning tool designed to detect potential fraud
Experts at Allianz UK have collaborated on a new machine-learning tool designed to combat growing fraudulent claims. The ‘Incognito’ tool was developed as...
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Shift Technology debuts integrated case management for claims fraud detection
Shift Technology, a provider of AI-powered decision optimization solutions for the global insurance industry, today announced the availability of case management...
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Impact of blockchain technology on the insurance sector
A game-changing development in the insurance industry is blockchain technology Blockchain technology is transforming the insurance industry by bringing transactional transparency and improved customer services....
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Hope or hazard? Generative AI takes center stage for Fraud Week 2023
As the sun rises on another International Fraud Awareness Week, Nov. 12-18, 2023, it shines on a world perhaps more fraud conscious than at any time in...
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