ERGO Insurance, successfully operating in the Greek market for more than 30 years, has activated a multi-dimensional action plan to combat insurance fraud, starting with the car insurance sector.
Athens Technology Center (ATC) is a key supporter in this effort, undertaking the implementation of an integrated anti-fraud solution, aiming to timely recognize, supervise and prevent malicious activities or transactions by Insurance Agents and Claimants.
For the specific project, ATC is going to customize the flexible and scalable insurance fraud detection and prevention platform of the American company 4LData (Fraud Detection and Prevention) to the requirements of the Greek insurance market. In fact, the 4LData platform will henceforth be available in Europe exclusively by Athens Technology Center (ATC).
Our partnership with ERGO is another testament of our role as a Smart Business Enabler for the wider banking and insurance sector. We are certain that the combination of the most modern big data analytics tools with artificial intelligence models, will allow ERGO Insurance to operate in a preventive manner.
Mr. Thomas Sounapoglou, Chief Technology Officer, ATC
Amongst others, the platform will support multiple workflows, such as
- detection of fraudulent claim patterns including false and overstated loss early in the process;
- agent gaming to identify, monitor and prevent agents or brokers committing automotive fraud trends;
- detection of the fraudulent activity of new customers’ applications.
This automated AI-powered data intelligence platform will be based on machine and deep-learning technologies, to allow the identification, monitoring and prevention of fraudulent agent and claimant activity for the Property and Casualty (P&C) business, with a future roadmap to support Life & Health (L&H) line of business.
Our goal is to provide ERGO’s executives with credible early warnings on suspicious fraud cases, so that they take action and limit the respective financial impact.
