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Life Insurance, Annuity and Pension

Gain profitable insights with life insurance analytics

Overview

For insurers and other providers of financial products and benefits, it’s more important than ever to make profitable decisions, fight fraud, and maintain the highest levels of customer satisfaction.

FICO’s insurance analytics tools help life insurance, annuity and  pension providers to drive business results and customer satisfaction throughout the entire lifecycle: customer acquisition, originations, underwriting, renewals, claims review, disbursements and ongoing marketing.

Leveraging FICO’s decades of experience,  insurers can use FICO analytic solutions and customer communications solutions can help maximize profitability, and reduce fraud, waste and abuse, while optimizing the customer experience.

Solution Architecture

FICO® Claims Fraud Solution

A powerful instrument to detect and prioritize fraud incidents

FICO® Claims Fraud Solution detects and prioritizes fraud incidents, so that most clients experience payback in a matter of months, not years. Built on FICO’s groundbreaking fraud analytics, the solution provides a completely integrated environment of continuous learning and sharpening that has proven effective in detecting and stopping fraud for real bottom line impact.With an easy-to-use business interface, carriers can input known fraud rules to stop fraud schemes early.Insurers can integrate the solution within their own case management system, or use FICO’s system for case identification, prioritization and workflow.

Customers

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FICO™ Insurance Fraud Manager doubles fraud detection performance for Agis

The healthcare insurance industry in the Netherlands has undergone a major change in recent years. A mostly nationalized system ona  few years ago, healthcare today is predominantly privatized, which puts intense pressure on insurers to be competitive.  One of the five largest Dutch health insurance providers, Agis understands this pressure all too well.  Fraud detection efforts at Agis included basic rules-based analysis and a forensics team that investigated any claims flagged as suspicious.  Agis was looking to solve the challenges of:

  • Manual investigation
  • Data limitations
  • Inability to adapt

Read more about how they worked with FICO to solve these challenges, and more.