PREVENT & DETECT FRAUD

Problem?

Traditional Process

Rules based approach

Can give False Positive

+ Unnecessary investigation
+ Unnecessary expenses incurred
+ Delayed payment of valid claims
+ Damaged relationships

Solution

XTND’S VERITAS PROCESS

Detects & identifies high
risk possibilities of:
Historic & Current
data relating to:
  • Fraudulent trends
  • Syndicated activities
  • Opportunistic fraud
  • Fraud
  • Abuse
  • Waste
Continuous enhancement & optimisation of all
fraud prevention & detection processes

How?

> Machine learning predictive models
> Fraud detection business intelligence rules

Personalised risk scores per transaction/claim.

Insurance, Banking & Medical Aid Providers

REQUIRE:

 
Enhanced decision making tools 360 – degree risk profile Timely interactions

To deliver on their sales promise.

BUT Reality is:
+ Disparate risk process
+ Technology legacy
+ Traditional mitigating platform
+ Legacy Risk Strategies

Features

Web based analytical tool
Live system
Highly adaptive
Continuously updated & refreshed
Developed with insight & experience by expert specialists
Integrates into transactional touch points

Benefits

  • Better results
  • Less time
  • Minimum effort
  • Reduced cost
  • Policy Protection Rules adherence
  • Supports prescribed legislation
  • Developed by expert specialists
  • Supports commercial strategies
  • Provides a competitive advantage
  • Enhances decision making

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