BlockFrauds

fardoesoftware.co.uk

Insurance fraud is a massive issue, costing ~$80 billion each year in the USA alone. This gets passed on to customers as higher premiums, in turn meaning that billions of the most vulnerable people worldwide cannot afford the protections they provide, whilst everyone gets worse service and value due to the required checks. Blockfrauds helps insurers detect fraud more effectively, efficiently, and compliantly, using cutting-edge technologies including AI and our proprietary algorithms. Our advanced speech analytics can detect known fraudsters and fraudster characteristics, while our advanced image analytics can tell if an image has been used elsewhere and undertake identity matching. This helps detect potential frauds at the local level, and the processing anonymizes the data so this speech and image intelligence can be shared, seamlessly and compliantly. We use a private, permissioned blockchain to share, which acts like a fraud bureau. This further helps detect known fraudsters.