In USA in 2001 an audit of Medicare indicated that 6.3% or $12 billion of $192 billion in fee-for-service claims paid annually were fraudulent or inappropriate. In the healthcare industry alone the U.S. Department of Health and Human Services/Centers for Medicare and Medicaid estimated the cost of fraud at between 3 and 10 percent of U.S healthcare costs. The forecasted cost of fraud in 2010 is between $78 billion and $260 billion. This translates into a cost per family of between $925 and $3,100.
The Solution is Data Mining...
Insurance sector nowadays has requirements like cost control, customer confidence, economical and efficient operations and building competitive advantage products.
It has been very important to take the right decision in insurance sector. To achieve that it is necessary to correctly analyse daily collected claim for damages and results coming from invoices, policies and daily transaction data. With a rapid, reliable and compatible analytical approach with changing conditions you can manage your risk and increase yoru profit.
InforA, with its data mining experience, provides the proffessional solutions best fit to your requirements.
InforA's experience and InforSense technologies provides solutions on following subjects in insurance:
* Customer Relationship Management: To increase customer profitability, to gain new customers
* Product definiton, profitability and pricing: Establishing special requirements of a specific customer segment, building profitable and customer satisfying products, prediction of project risk, prediction of profit
* Fraud detection: Analysing data structure, detecting anomalies
