Artificial Intelligence Driven Fraud Detection Analytics
Connect With Us

Business Impact

null

One of the main aspects of insurance is claim processing, and incorporating AI into the workflow can increase efficiency and speed up decision-making.

null

With evolving technology, the banking sector's capacity to detect cybercrime or spot anomalies has to evolve as well.

null

Automated fraudulent detection improves the accuracy in determining fraud riskiness, reduce false positives, and lessen overhead costs.

null

Through our proposed solution, OptiSol helped the finance company in developing a ML based fraud claims detection solution that improved the accuracy by 90% compared to the manual process.

null

The solution could identify claims that stood out as an anomaly and the variables that cause abnormality.

Talk to Our Experts!

Technology Stack

Solution Overview

null

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

null

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

null

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

null

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

null

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

Trusted and Proven Engagement Model

  • Our engagement model defines the project size, project development plan, duration, concept, POC etc.
  • Based on these scenarios, clients may agree to a particular engagement model (Fixed Bid, T&M, Dedicated Team).
  • The solution discovery phase is all about knowing your target audience, writing down requirements, and creating a full scope for the project.
  • This helps clarify the goals, and limitations, and deliver quality products & services.
  • A nondisclosure agreement (NDA) is signed to not disclose any sensitive information revealed over the course of doing business together.
  • Our NDA-driven process is established to keep clients’ data and IP safe and secure.
  • The SOW document shall list details on project requirements, project management tools, tech stacks, deliverables, milestones, timelines, team size, hourly/monthly rate cards, billable hours and invoice details.
  • On signing the SOW, an official project kick-off meeting shall be initiated.
  • Our implementation approach, ecosystem, tools, solutions modelling, sprint plan, etc. shall be discussed during this meeting.

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

null

50+

AI & ML
Engineers

null

40+

AI & ML
Projects for
reputed Clients

null

5yrs

in AI & ML
Engineering

Awarded as Winner among 1000 contestants at TechSHack Hackathon

Connect With Us!