Predictive Analytics is a breakthrough in the battle against waste, abuse and fraud
Insurers think Predictive Analytics is a major breakthrough in their battle against waste, abuse and fraud
Premiums in the United Arab Emirates currently amount to over $9 billion. WAF has become one of the main reasons for this uncontrolled and at times unjustified growth. Existing rule based systems for fraud detection are not in a position to identify fraudsters and prevent losses insurance companies are incurring. Insurers are seeking more adequate and efficient alternatives for fraud detection and loss prevention.