"Infinity Property & Casualty, a mid-size insurance businesses providing specialty insurance struggled with effective fraud management."
"By using predictive analytics the company developed a process to assign different "scores" on fraud probabilities when claimants first report an accident. By using a rules engine and machine learning that automatically scores claims based on its fraud probability, suspicious claims are forwarded into investigators within a day or two from 30-60 days and with better hit rates. In the first month of using IBM''s SPSS analytics-based system, our company has been able to increase subrogation recovery by $1 million; after six months, the savings rose to $12 million."
35.5 percent improvement in claims processing speed Subrogation recovery of $12m in six months