Insurance fraud is not a harmless crime:
AXA Gulf takes proactive measures to reduce fraud
AXA Gulf, which was recently acquired by the Gulf Insurance Group (GIG), announced its plan to launch proactive services based on artificial intelligence to reduce fraud in cooperation with “Motori” to identify and detect false auto insurance claims and determine the risk ratio for customers. the new ones.
For this purpose, AXA Gulf is collaborating with the insurance technology company “Motori”, in a proactive initiative based in the UAE, which allows insurance companies to determine the proportion of risks associated with new customers in real time, including a comprehensive analysis of claims history, vehicle value and accident history, which will help AXA Gulf in determining The proportion of risks, potential fraudsters, and false or over-valued claims, especially that the value of false or fraudulent claims in the region runs into the millions of dollars.
Frank Hamburger, Chief Personal Lines Officer at AXA Gulf, said: “Insurance fraud is not a simple crime, as the costs associated with fraud fall on honest customers, whose premiums go to cover the costs of claims. We feel it is our duty to do everything we can. It is in our power to protect ourselves and our customers from these fraudsters, who are deliberately seeking to take advantage of our service in an unfair manner.”
"We seek to leverage Motori's technologies to take a tougher approach to fraud cases, support law enforcement efforts, and ensure fair and affordable insurance premiums for our customers," Hamburger added.
Motory will provide AXA Gulf with a risk assessment tool to help it assess claims and detect fraud by analyzing the vehicle's history inside and outside the country, as well as the accident history of the driver and owner.
Using AXA Gulf's AI technology from Motory, you will be able to check the level of risk via the vehicle's chassis number and traffic code number, and receive a standardized assessment of the level of risk, whether it is low, medium, high or very dangerous, based on the available data about the vehicle and its owner .
In addition, the insurance company will obtain a scorecard indicating the level of risk based on the details of the accident when submitting a claim.
For his part, Ahmed Issa, CEO of Motory, said: “Established in Masdar City - UAE, Motory is one of the leading providers of smart digital services to the insurance sector in the region. We are pleased to enter into this strategic partnership with AXA Gulf to help them reduce Possible frauds. Our proactive and AI-based services aim to help insurance companies develop a way to deal with this problem using the latest technologies, allowing high-quality services to customers and protecting insurance companies from potential fraud.”
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