Insurance Fraud Detection Market to Reach $28.1 Bn, Globally, by 2031

Behavioural Cues Technology
Research indicates that 30% of the public say they will consider submitting fraudulent claims. 

Key Facts due To Covid-19 (quoted from Allied Market Research in PR Newswire):

  • The Covid-19 pandemic raised the claims of insurances across the globe in different sectors, specifically in the healthcare sector due to surge in number of hospitalizations of infected patients.

  • With the rise in number of claims related to healthcare, the fraudulent claims surged substantially. Insurance providers are adopting advanced technologies and utilizing data to detect fraudulent claims and tackle losses. Moreover, they carried out cross-industry anti-fraud collaborations to protect honest customers.

  • Many insurance companies underwent the digital transformation programs to detect sophisticated and evolving fraudulent insurance claim behaviours.

Now is the time to fight Insurance fraud using behavioural detection technology!

What is Layered Voice Analysis
Layered Voice Analysis (LVA) technology monitors the uncontrolled parameters of the human voice that emerge when a person speaks. This genuine emotion detection technology identifies 151 micro markers when words are spoken.  

The InTone RA7 A.I™ Fraud Detection Analysis Process  
Should the InTone RA7 A.I™ analysis identify a topic that carries a significant emotional load and repeating risk indications, it will be flagged for deeper investigation. This way, through a simple phone call all incoming claims can be screened in real-time for potential fraud, with no additional burden on the existing process – and effectively prepare the grounds for a deeper investigation should there be need for it.   

InTone RA7 A.I™ is installed on the claim's handlers' PCs and connects the PC to the phone.The entire analysis process is done  on the agent's PC, saving resources and keeping all the private data behind your organisation's firewall. Reports are logged in the organisation's internal server for maximum security.

Use Case for RA7 Service Centre model at Censeo (South Africa)

During the POC phase in 2014, Censeo’s investigation unit analyzed a total of 30,000 insurance claims, forwarded to it AFTER initial screening by the insurance companies in-house fraud prevention means.

Using RA7, about 20,000 claims (70%) were found to be “Low Risk” and should not be investigated, improving customer service to the rightful claimants, as well as saving just about *15,000,000 US$ in costs and travel expenses.

(*Based on $750 expenses per case, including airfare, hotels & investigator’s work)
RA7 is used as a secondary screening tool, evaluating cases that raised suspicion by other means. Using RA7, the honest claims that failed due to initial evaluation by other means were served faster and hassle free due to the low risk score.


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InTone RA7 A.I™

Fraud Detection & Mitigation Solution

Cut down fraud-associated costs by up to 45%.
InTone RA7 A.I™ solution for risk assessment detects in insurance claim calls the unique vocal characteristics that indicate a high probability of fraud or concealment of information.
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InTone RA7 A.I™ solutions are designed as a combination of software elements and carefully designed conversation scripts made to cover each insurance case from all angles, measuring the claimant’s emotional reactions and consistent indications for the list of relevant topics.
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