Technology in Insurance

Fighting Fraud with Advanced Technology: Detection, Mitigation, and Prevention

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Boston, MA (Mar. 20, 2017) – Strategy Meets Action (SMA), a leading insurance strategic advisory firm, has just released a new research report, Fighting Fraud with Advanced Technology: Detection, Mitigation, and Prevention. This report gives insurers a picture of how anti-fraud measures are changing – and will continue to change – as technology advances.

The report highlights five technologies with the greatest potential for the fight against fraud: telematics, wearable devices, the Internet of Things, drones, and artificial intelligence. For each technology, the report discusses specific use cases and gives a rough timeframe of when insurers will start to see their potential become reality.

  • Telematics, wearable devices, the Internet of Things, and drones are potent new data sources to help insurers identify fraud.
  • Advanced data and analytics are a must for insurers to reap the full benefits of these and other new data sources.
  • Artificial intelligence has enormous promise for increasing the speed and sophistication of insurers' insights.
  • Insurers not ready to embrace these advanced technologies must join the current anti-fraud playing field by implementing predictive analytics and link analysis.

"There is a desperate need to change how insurers deal with fraud," said Karen Pauli, SMA Principal and report author. "Fraudsters are adapting to the digital world, and insurers have to be able to stay one step ahead or risk becoming the fraud target of choice."

Purchase the report: Fighting Fraud with Advanced Technology: Detection, Mitigation, and Prevention.

Insurers, solution providers, and media that are interested in learning more should contact Karen Pauli at kpauli@strategymeetsaction.com or 774.462.7820.

About SMA

Exclusively serving the insurance industry, Strategy Meets Action (SMA) is an advisory services firm offering retainers, research, consulting, events, and innovation offerings to both insurance companies and solution providers. Learn more about SMA at www.strategymeetsaction.com.

SOURCE: Strategy Meets Action (SMA)


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