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Topic : Issues in Insurance Claims Practices
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Secure the future - Insurance

 

Softwares and Insurance claims

Created by : Avanish Ratna, Actuary Manager, LIC  | 01 23 2009 05:51:11 +0000
Industry : InsuranceFunctional Area : USA(Markets)
Keywords : softwares insurance claims
Activity:  303 views;  last activity : 07 06 2010 20:18:09 +0000

Can softwares check the legitimacy of Insurance Claim?

  
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I think Predictive Claim a software from SPSS has been designed for such schemes. And to my knowledge and past experience the efficiency and accuracy of these softwares is about 90%.
By Avanish Ratna, Actuary Manager, LIC  | 01 23 2009 05:51:11 +0000
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Though these softwares are too good but the 10% flaw which cannot be detected through them has last accounted to an amount of 30 billion dollar in 2005. So, dont you think that there minor flaw can cause great loss.
By Jithesh Ramesh, Actuary Manager, Tata Aig Insurance Solutions  | 01 23 2009 05:54:37 +0000
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