Legitimate loss or fraud?

To help improve claim cycle time as well as customer service, Infinity Property and Casualty Corporation has chosen a new predictive analytics solution. The automobile insurance provider will use PredictiveClaims software from SPSS to help determine if claims are legitimate and warrant immediate approval or if they are potentially fraudulent and require more scrutiny.

After the customer claims are scored and streamlined, Infinity Insurance will also use the solution to identify the most appropriate claims adjuster for a case, according to a recent press release from SPSS. The scoring application also will include fraud detection for claims-related vendors, such as repair shops, attorneys, medical practitioners and others.

Bill Dibble, senior VP of claims at Infinity Insurance, says, "The relationship we have with our customers is put to the test when they file a claim, because they want a resolution so their lives can return to normal as quickly as possible. With SPSS, we can fast-track valid claims or flag possible counterfeit claims for further review, saving our customers time and money."

SPSS says that eight of the top 10 global life insurance companies are using its predictive analytics software to improve acquisition, retention, up-sell and cross-sell efforts; to enhance customer satisfaction; and to spot suspicious claims.