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The insurance industry has long been a leader in the use of analytic models for pricing. Now, with new and more complex data available there are an increasing number of scenarios where analytics are making a big impact. FICO provides a platform for Insurance that uses advanced analytics to manage risk, prevent fraud, improve debt collections and increase your profitability while delivering a great customer experience. This includes areas such as:
For insurance companies who deal with cyber-insurance, FICO delivers a research-proven approach to independently score 3rd party organizations based on their risk of data breach – this involves scanning the entire internet on a weekly basis and process an enormous data set using machine learning to create advanced predictive models. This same enterprise security score can be used to ensure you have accurate insight into your own company’s ability to keep sensitive data secure.
GEHA catches fraud before payout while improving case targeting twelve-fold.
It’s a fact: Accounts receivables and bad debt are soaring among hospitals and health systems, and it’s not just because of uninsured patients. Unpaid medical bills are also surging at an alarming rate for many middle-class citizens, due t...
The FICO® Cyber Risk Score provides an empirical, long-term indicator of network security risk based on network assets and proprietary analytical methods helping understand your security posture and assess the risk of third-party organizat...
Predictive analytics are a powerful tool for detecting more insurance claims fraud with greater certainty, helping insurers contain losses while streamlining claims processing and making claims review more productive. How much value analyt...
Insurance fraud losses are rising in the US, the UK and many other markets across the globe. Insurers are experiencing higher incidences of opportunistic fraud (exaggeration of legitimate claims), as well as premium leakage due to misrepre...