What are the benefits?
- Applicants with no risk of fraud get a quick automated decision resulting in a positive customer experience
- Referrals reduced by over 30%**
- Easy to understand fraud referral strategy providing an accurate view of high risk cases
- Minimal number of cases that an underwriter needs to look at to identify fraud
- Easy implementation using any application processing system
- Retro capability allows for true simulation and reduced risk of change
How does it work?
We have developed an algorithmic model for identifying the best characteristics to identify fraudsters. By looking at interactions and correlation, the optimal combination of characteristics can be selected to create a group of high risk referrals.