Insurance Technology Featured Article

SMA Innovation in Action Award goes to SAS Fraud Framework for Insurance

September 26, 2012

SAS (News - Alert), a specialist in business analytics, announced that it has been selected by insurance strategic advisory firm Strategy Meets Action or SMA to receive the SMA (News - Alert) Innovation in Action award for its SAS Fraud Framework for Insurance.

SMA launched this award program in its endeavor to inspire, share, and recognize solutions that benefit both insurers and solution providers. The innovative solution recognized should also leverage one or more of the five next-generation technologies namely mobile, collaboration, analytics and big data, social media, and the cloud.

Optimally serving the business intelligence market, SAS provides innovative solutions that help customers at more than 60,000 sites to enhance performance by arriving at optimum decisions faster.

Stuart Rose, Global Insurance Marketing Manager at SAS said, “Fraud is a growing challenge for insurance companies, especially organized fraud.”

Rose further added that the selection of SAS for the award further emphasizes the success that SAS solution has in dealing with insurance fraud. SAS customers benefit a lot form this advanced technology which enables higher detection rates besides enabling more accurate scoring of claims for suspicious activity. Also, the solution flags and stops fraudulent claims, said officials.

“SAS, the winner in the IT solution provider category for SAS Fraud Framework for Insurance, provides a cutting-edge solution by combining key next-generation technologies to help insurers detect and prevent both opportunistic and organized claims fraud,” said Karen Furtado, SMA Partner.

SAS Fraud Framework for Insurance has been designed especially to prevent, detect and manage claims in different businesses. Also the solution is well equipped to increase investigation efficiency and accuracy of special investigations units and has been leveraged by insurers like Allstate and CNA.

According to a recent report, Softonic has chosen SAS Business Analytics to meet the challenge of big data. Softonic is a prominent website for sales and the download of secure software in Europe and Latin America. It will use SAS predictive analytics to deepen its understanding of users.

The company will harness powerful SAS Analytics to uncover customer behavioral patterns, predicting likely user actions, responses and preferences in online purchasing and downloading software.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Austin 2012, taking place Oct. 2-5, in Austin, TX. Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Brooke Neuman

Article comments powered by Disqus

Related Insurance Technology Articles

Report: Novarica Says Insurers are Spending More on IT

Novarica released its seventh annual U.S. Insurer IT Budget and Project report this past Monday, and it revealed that players in the insurance market are spending more on IT to increase abilities to bring products to market, analyze big data, and make internal workflows more efficient. [ Read More ]
10/01/2014

AIG Chooses Accenture Life Insurance Platform to Achieve Operational Excellence

American International Group, Inc., a premier international insurance organization recently opted for Accenture's Life Insurance Platform, to create and modify products faster in order to attract and retain customers. [ Read More ]
09/30/2014

Discovery Limited Partners with Cambridge Mobile Telematic to Transform Auto Insurance

For anyone following things related to the "connected car", you are aware that the information being generated from those smart cars is of more than casual interest to auto insurers. In fact, the emerging field of "behavior-based" auto insurance is poised to transform the way all of us buy policies as new rates are introduced based on our driving habits and skills, and we are rewarded for good driving. [ Read More ]
09/25/2014

Importance of Customer Experience in Insurance

For inusrance companies enhancing the customer experience creates a real competitive advantage. [ Read More ]
09/22/2014
FREE Insurance Technology enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!