Learn how our data aggregation platform Scout® enables insurers to automate fraud detection and claims validation across ALL their internal and external data sources. In doing so, cuts investigation time by up to 85%, compared with manual investigations.
The Need for Digital Transformation
The volume of data that has become available in the last few years has provided insurers with an un-precedented opportunity to make better decisions in relation to their investigations in relation to their claims validation and fraud detection procedures.
However, this comes with challenges – how do you manage these sources, how do you access them at scale, and how do you keep up to date with an ever-changing data landscape?
The Solution: Scout®
Scout® aggregates data from open, closed, third party and proprietary sources, allowing investigators and analysts to query data efficiently and at scale.
Scout® allows users to build search and risk assessment workflows drawing together data sources relating to people, addresses, telephone numbers, email addresses, companies, vehicles and IP addresses. Scout® performs data collection in a fraction of the time it takes for users to manually log in and out of multiple data sources and investigation tools, even when looking at thousands of investigation points.
Features and Benefits
Scout®’s ability to query, cleanse and flag data from internal, external and open-source data sources concurrently, at scale, set us apart from the competition.
Single intelligence environment
Along with internal data and open-source intelligence, Scout®’s third party integrations include CRIF, Creditsafe, TransUnion, GBG, LexisNexis, Equifax, DVLA, DVSA, CIFAS, Land Registry and Companies House datasets.
Better customer experiences
Automated reports compiled in seconds, enable your business to make decisions on validating claims more quickly, ensuring genuine customers stay happier and more loyal. While simultaneously detecting more fraud to ensure premiums can be kept lower.
Discover hidden links in merged data sets
Scout® WorkBench allows users to carry out complex further investigations by visualising links between entities and providing the ability to select and investigate any one of them further at the click of a button. Our data clashing functionality allows users to compare datasets to identify commonality.
Improved analyst decisions
Standardised, in-depth and clear reports, free of the human error that can come from manually cross referencing across multiple datasets, mean your team are free to focus on decision making.
Share intelligence on investigated parties
Search across your previous investigations to automatically find if anyone has looked at this customer or their associated data points before; saving time and offering greater insights when building a profile – all of which can be reviewed and updated in real-time.
For a Proof of Value, Scout® identified in excess of £1.6 million in annual fraud savings, delivered a 52% increase in fraud detection, and saved 288 hours, compared to manual processing.