Samsung Fire & Marine Insurance Develops In-House System for Preemptive Analysis of Insurance Fraud
[Asia Economy Reporter Oh Hyung-gil] Samsung Fire & Marine Insurance announced on the 8th that it has independently developed the 'Moral Sign Analysis System (IFDS)' to prevent insurance fraud in advance.
Samsung Fire & Marine Insurance formed a team of practitioners related to insurance investigation in January this year to develop this system.
IFDS provides information on the progress of insurance fraud investigations, including requests for investigation, requests for prosecution, and judgments after case closure for suspected insurance fraud offenders. Suspected insurance fraud offenders are assigned a reception number, and the overall progress status is provided based on the accident number registered in the computer system, allowing simple inquiries to view information related to the accident.
Additionally, it provides analytical information related to insurance fraud categorized by insurance type or target. According to the settings of insurance fraud caution conditions such as accident location or address, number of accidents, and detected cases, information such as accident history, detection history, and confirmed conviction history is provided in order of higher rank.
Insurance fraud information is stored as big data and will be utilized for insurance fraud data analysis such as suspicious group analysis of fraud collusion, relationship analysis, and concentration analysis.
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A Samsung Fire & Marine Insurance official stated, "This system was completed by accumulating the know-how Samsung Fire & Marine Insurance has built up regarding insurance fraud," adding, "With the addition of an artificial intelligence (AI) intelligent insurance fraud detection function next year, it is expected to respond ahead of anyone else to new and sophisticated types of insurance fraud."
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