Chicago-based CNA has selected SAS' (Cary, N.C.) Fraud Framework for Insurance.
The SAS platform facilitates the detection and prioritization of suspicious claims using a comprehensive fraud scoring engine that combines automated business rules, database searches, anomaly and exception reporting, predictive modeling, text mining and network link analysis, according to the company. A reporting mechanism scores, dedupes, prioritizes and routes potentially fraudulent claims to the right carrier employee, the company continues.
"We have long believed that the future of fraud detection is information intelligence,” Tim Wolfe, director of the Special Investigations Unit at CNA, says in a statement. “Identifying fraud one claim at a time continues to be important, but being able to detect and react to organized networks perpetrating fraud across multiple claims, jurisdictions and lines of business is where we can have the biggest impact.”
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio