Client Overview
A leading multinational insurance and reinsurance provider faced mounting challenges in financial fraud detection across a portfolio of 120 high-value accounts. With growing data complexity and regulatory scrutiny, the client required a scalable fraud detection solution that delivered speed, accuracy, and compliance.
Problem Statement
Despite existing controls, the client’s fraud monitoring faced key roadblocks:
- Limited fraud signal identification within large and diverse financial datasets
- Unstructured data formats, such as non-machine-readable PDFs, leading to data loss
- Manual workflows that delayed fraud case resolution and led to oversights
- High investigation costs and elongated turnaround times
Solution Provided
Decimal Point Analytics deployed Fidelity Pulse, its proprietary AI-powered fraud detection platform, as part of its Risk & Compliance Services suite. Key solution components included:
- Automated anomaly detection using AI models to flag suspicious activity in real time
- Data standardization pipelines that converted unstructured PDFs into structured, machine-readable formats
- Advanced fraud analytics and financial modeling to detect risk patterns and prioritize suspicious accounts by severity
- Detailed fraud intelligence reports to support decision-making and audit trails
Outcome
The engagement delivered quantifiable impact:
- Identified 14 suspicious accounts out of 120 reviewed
- Improved fraud detection speed and accuracy, cutting down on false positives
- Strengthened customer compliance documentation and overall data quality
- Achieved 50% increase in fraud detection efficiency through intelligent automation
Key Takeaway
Combining fraud detection software, AI models, and domain knowledge allows insurers to reduce fraud exposure, cut costs, and accelerate decision-making. Automation brings scalability without increasing overhead.
Explore how our AI-Powered Fraud Detection Services can safeguard your operations.
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