Using Analytics to prevent bad market conduct and gaming in Insurance

An analytically driven approach using machine learning techniques to detect misconduct and protect your enterprise.

The insurance agent remains an important sales channel for many insurers, and the predominant one in many markets. But there is increased attention of insurance regulators, and the media, in poor sales practice of some of these agents.

An analytically driven approach

Pressure remains on insurers to detect mis-selling and agent gaming as quickly as possible; to stamp out this risk. In this webinar we’ll highlight an analytically driven approach to detect agent gaming and mis-selling, to complement existing warning processes and procedures that the insurer already has in place.

Machine learning techniques for detection of misconduct

This webinar highlights an analytically driven approach to detect agent gaming and mis-selling, to complement your existing warning processes and procedures. We will also show a demonstration of the interface that your teams would access to allow them to understand why an agent is a suspect, along with a case study showing both improvements in detection of ‘bad’ agents and increased efficiencies in the investigation process.

Regulators globally are tightening up on the approach that insurers need to take to ensure than neither mis-selling nor agent gaming is taking place within the new business process. Insurers are responding in different ways, an innovative few are now using machine learning techniques as one of the ways of early detection of this misconduct. The content sharing, including case studies during the webinar will demonstrate how advanced analytics can be easily deployed within Life and P&C insurance companies.

Key Takeaways:

• That machine learning techniques can allow insurers to much quicker identify agents who may be starting to go rogue
• That machine learning can significantly improve the efficiencies of the internal triage and investigation process
• That insurers can move from being reactive to proactive
• Reduce monetary loss
• keep customer and brand reputation high
• Improve organizational efficiencies on fraud investigation

Presenters:

David Hartley
Global Director, Fraud and Financial Crime Practice
SAS

David Hartley Global Director, Fraud and Financial Crime Practice, SAS David Hartley is a 20-year SAS veteran based in the UK and has global responsibility for the direction and development of specific analytics solutions to address insurance fraud detection and prevention and leads of team of insurance fraud global experts. The team also support health insurers in their pursuit of fraud, waste and abuse. SAS entered this space in 2009 and now has just under 100 insurers and ten country consortiums across the world using SAS to detect suspicious claims, potential fraudulent new business applications, reducing false positive ratios in investigation and using the solution to identify potential fraud within the various third parties involved in the claims process including agents, garages/motor repair shops, doctors/medical providers etc. as well as possible internal fraud within the insurer. David brings over 35 years of insurance experience to SAS. He was part of a small team that established Lloyds Bank as the largest bancassurer in the UK in the mid 1990’s. Prior to this he spent 7 years at Eagle Star (now part of Zurich Insurance) working on both central data repositories, the application of data intelligence (including fraud detection and customer intelligence) and running direct marketing teams, and was part of the management team that established their successful personal lines direct writer in 1989. David is a graduate in Business Studies from the University of Aston In Birmingham, England and is an Associate of the Chartered Insurance Institute, a Fellow of the Institute of Direct and Digital Marketing and holds Diplomas from the UK’s Chartered Institute of Marketing, and Market Research Society. Outside of work, David has been happily married for 30 years, and is the father of 4 young men, and is a life-long Manchester City supporter. He is also the Chairman and Founder of a global medical research charity and support group, The XLP Research Trust. LinkedIn profile - linkedin.com/in/davidghartley