Italy Seeks to Boost Fraud Detection with AI-Powered Solution

In an effort to combat the growing threat of fraud in Italy’s insurance market, a leading Italian general insurer has partnered with global technology firm GFT to implement an innovative anti-fraud solution powered by artificial intelligence (AI) and big data.

The Problem: Inconsistent Data Across Markets

For years, the insurance industry has struggled with inconsistent data across markets, making it challenging to detect fraud effectively. This partnership aims to address this long-standing issue by leveraging real-time technology for instant analysis and swift response.

The Solution: AI-Powered Fraud Detection

GFT’s modular framework combines structured and unstructured data from internal and external sources to enable seamless investigation of suspicious items. The user-friendly instruments grant antifraud teams access to complex data and social network analysis capabilities, presenting actionable information in clear reports for easier decision-making.

Key Benefits:

30% increase in fraud detection rates: The AI-powered solution has significantly improved the insurer’s ability to detect fraudulent activities.
40% daily real-time reporting: Real-time detection enables the anti-fraud team to act immediately, extracting relevant information and examining suspicious positions without IT department intervention.
7% decrease in false positives: The solution has also reduced the number of false positives, ensuring that fewer legitimate claims are incorrectly flagged as fraudulent.

Partnership with Rulex

Rulex, a leader in no-code software for data preparation, machine learning, and optimization, played a crucial role in this project. The company’s unique logic-based approach to predictive analytics empowers business and process experts to create and deploy AI applications without programming.

Quote from GFT Italy CEO

“This innovative solution demonstrates the power of combining AI and big data in combating fraud,” said [Name], CEO of GFT Italy. “We are proud to have partnered with our client to deliver a tailored solution that addresses their specific needs and drives real results.”

The Future of Fraud Detection: Integrating Digital Documents

As the insurer looks to expand its solution, the focus will be on integrating digital documents and data from disparate sources to further enhance its capabilities. This groundbreaking project serves as a benchmark for the insurance industry, highlighting the potential for AI-powered solutions to combat fraud and improve operational efficiency.

Download the Full Success Story

For more information on this innovative project, download the full success story at [link].