PriyaPatel
TLDR:
Key Points:
- Technology has impacted the insurance industry, making it easier for bad actors to commit fraud.
- A survey is being conducted to understand how insurers are using technology, particularly Gen AI, to combat fraud.
In the insurance industry, the advancement of technology has had a significant impact on various aspects of operations. While technology has streamlined processes, it has also opened up opportunities for fraudulent activities. Digital Insurance’s parent company, Arizent, is currently conducting a survey to explore how insurers, agents, and brokers are leveraging technology, including Gen AI, to detect and prevent fraud.
The survey aims to gather insights on the prevalence of fraud in different lines of business, such as property and casualty, workers’ compensation, and commercial lines. It also seeks to understand the sources of fraud, whether from claimants, policyholders, or vendors. Additionally, the survey delves into the training initiatives implemented by carriers to enhance professionals’ ability to identify fraudulent behaviors.
Participants in the survey can expect their responses to remain confidential, with aggregated data being used to highlight industry trends. The results of the survey will be shared on the Digital Insurance website later this fall. As the survey deadline approaches, insurers, agents, and brokers are encouraged to take part in this initiative to contribute to the collective understanding of insurance fraud in the digital age.
