Fraudulent motor claims costs insurers in Malaysia an estimated RM 1 billion in 2021, making it one of the most common types of automotive insurance fraud in the country.
Fermion’s TrueSight solutions use tools like AI, data science and interactive video to expedite the delivery of insights throughout the claims process – this aids insurers by enhancing accuracy of assessment, improve cost management as well as detection and prevention of fraudulent activities.
Fermion’s Peter Miller spoke to The Edge Malaysia about its TrueSight Fraud Intelligence solution and how data and AI are the panacea to combating insurance fraud.
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