Synetics Solutions highlights anti-fraud technology


Synetics Solutions’ anti-fraud technology has access to a third of a billion data records helping it support the industry tackle everything from financial crime to money laundering.

The AI-powered tool has been developed specifically for the insurance sector to manage the risk of fraud throughout the customer claims journey.

This is achieved by pairing its syndicated database, which includes hundreds of millions of cross-sector records, with company data to detect patterns and anomalies that may indicate fraud.

It can be applied from the point of quote to claim settlement, with both supervised and unsupervised machine learning capabilities to flag up potentially fraudulent claims.

Synetics further supports the industry through its Special Investigations Unit, which follows up fraudulent claims, while issuing regular intelligence alerts based on live data analysis to warn customers of new fraud trends within their sector.

Synetics Solutions recently showcased its offering at ILC’s MGA Claims Conference which took place at 155 Bishopsgate, London, supported by Headline Sponsor Claims Consortium Group (CCG); Gold Sponsors: Activate Group, Carpenters Group, EDAM Group, Enterprise, LexisNexis Risk Solutions, Pulse, Value Checkers, and Wiser Academy.

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