How to utilise Artificial Intelligence in fraud claims

Nigel Cade, managing director of The Insurance Claims Service Centre, explained to Insurance Business the innovative ways in which Artificial Intelligence (AI) can be used to help detect and prevent fraudulent claims, but also that a'fraud fighting culture' needs to be present to properly utilise the software. "There is often a zero-tolerance policy, but not necessarily a fraud fighting culture in place," Cade explained. "I don't think that the industry is yet to deal that well with fraud at all." Cade spoke to Insurance Business in anticipation of his presentation on the topic at the TechFest in May. Fraud, he said, was still a pressing issue that the insurance industry must grapple with. "It's huge – it's a huge problem still," he said.