Insurance

Solutions for Insurers

THE NETMAP COMPETITIVE ADVANTAGE

Reduce the cost of fraud
Increase profit
Reduce premiums
Speed up claims processing
Increase your market share.

The costs of fraud

Insurers know the reality of claims fraud. Its increasing, its becoming more sophisticated and its a costly drain on profitability. Recent Insurance Council of Australia estimates put losses as high as $1 billion per year. Is it a battle worth fighting? YES. Is it a battle you can win? YES.

The opportunity

For many years now, leading US insurers have consistently utilised NetMap solutions to effectively combat fraud. Dramatic savings and improved profitability have been the result. (See Success Story, US Insurance Giants Get Nasty). NetMap now gives Australian insurers the opportunity to secure a significant competitive advantage.

Its not magic it just feels like it.

In a matter of minutes, NetMap reveals connections, links and patterns in your data that could take you months of manual investigation to reveal, if ever. How? Instead of looking at single claims individually, NetMap performs a simultaneous, in-depth analysis of ALL your data. Custom-developed for the insurance industry, our powerful software tools draw on millions of items of data from claims, policies, payments and medical bills. Suspicious, previously invisible connections suddenly become very visible (eg. multiple claims featuring the same telephone number for a witness or doctor, or vehicle identification number.)

KEY BENEFITS FOR INSURERS:

Fight fraud more aggressively than ever before

Rather than simply relying on tips, chance or obvious discrepancies, NetMap gives you a depth of knowledge that allows you to uncover complex fraud rings and elaborate schemes. Its time to match the fraudster’s sophistication with your own!

Save investigators hours of precious time

NetMap’s state of the art technology will enable your investigators to deliver superior results faster, more effectively and at less cost. You’ll recover your missing revenue sooner!

Faster processing of genuine claims = better customer service

Customers want a fast, convenient claim process. At the same time, you dont want to pay fraudulent claims. Can you achieve both objectives? YES. NetMap’s state-of-the-art, all-inclusive system lets you eliminate some of the more time-consuming checks and balances in your current system. This means that you pay claims faster a tangible competitive edge – without increasing your risk.

Install your own software or let us do the analysis its up to you

Flexibility is a key feature of NetMap’s service. You can purchase our software as an installed product, or utilise the services of NetMaps expert analysts. Its up to you.

Enhance profits and performance

Reducing fraud costs obviously increases your profitability. It can also allow you the opportunity to reduce your premiums and attract more customers in a highly competitive market. Either way, its good news for your bottom line and your shareholders!

Related links:

Learn more about NetMap Success Stories in the insurance industry.
See how NetMap visualises unique relationships in data.

To find out more about NetMap Solutions for Insurers contact us today.