Insureds looking to commit fraud will no longer be able to simply ask a friend or neighbor to sign as a witness to a claim for car damages, thanks to a new offering from FRISS, a worldwide provider of AI-powered fraud and risk detection for the property/casualty insurance industry.
FRISS recently added a new tool to its fraud analytics arsenal: Online Network Analysis from Web-IQ. The new feature automatically identifies if the claimants and the insured or other involved persons are related to each other in an online environment.
Ronald Hoek, head of business development for Web-IQ’s corporate product line Bizz-IQ, noted in a release that the “technology brings the capacity of 1,000 online investigators and returns information and relations that so far is almost impossible to provide by a human process to the user in minutes.”
Web-IQ helps insurance companies and other financial organizations combat fraud and monitor risks by conducting comprehensive customer due diligence via automated online investigations.