Artificial Intelligence Driven Fraud Detection

Overview

The client’s data was not labelled as fraudulent or not. Proposed a solution that would take up information that were filed during the claiming process and then predict whether the claim was fraudulent or not.

Solution Approach

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Initially the currently available mechanism, policies and regulations were studied.

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Data is analyzed to examine and check for abnormal data points and comprehend variables that may cause anomalies.

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Initially the duration between accident to the date of the report was analyzed.

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Driver specific analysis was performed where in the license class, the experience and vehicle restriction and then visualized

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The isolation Forest and SVM (Support Vector Machine) model was constructed to identify claims that stood apart as anomalous

Business Impact

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Ability to identify claims that stood out as an anomaly.

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Ability to identify the variables that cause abnormality

Technology

Our Award-Winning Team

A seasoned AI & ML team of young, dynamic and curious minds recognized with global awards for making significant impact on making human lives better

Awarded Bronze Trophy at CII National competition on Digitization, Robotics & Automation (DRA) – Industry 4.0

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50+

AI & ML
Engineers

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40+

AI & ML
Projects for
reputed Clients

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5 yrs

in AI & ML
Engineering

Awarded as Winner among 1000 contestants at TechSHack Hackathon

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