Cognitive Process Automation for detecting Claims Fraud
Named in tribute to the legendary detective Sherlock Holmes, Sherlock FD is an out of the box Fraud Detection engine to sniff out outliers in claims processing and help arrest leakage.
Sherlock FD is a SAAS product works on data supplied from transaction systems and customer master. Initial information about past fraud cases add to customization specific to an insurance provider.
It works on detecting outlier cases based on how proximate does a claim look similar to past fraud cases. Example:
In a case of health claim, commonality of a hospital, doctor, city, surveyor, parts or procedures used for a given case, etc. Help detect fraud with utmost ease. Once a case is flagged off, it can be further investigated by agents.
How Sherlock AI works
Sherlock AI learns from data in your transactions systems, customer master, past fraud cases and any other customisations for you.
It uses advanced algorithms to detect outliers based on their proximity to past fraud cases. For instance, in the case of health claims, commonality of hospital, doctor, city, surveyor, parts or procedures used for a given case, etc. help detect fraud with utmost ease.
It identifies and flags for further investigation by your agents.
How we achieve near-100% accuracy with Sherlock AI
Multiple algorithms for fraud detection
In Sherlock AI, there are multiple algorithms working simultaneously on fraud identification, ensuring ease of detection.
Exclusive algorithms for correcting false predictions
DeepQuanty’s patent-pending algorithms are designed especially to correct false predictions, and guess values in noisy images, at 100% accuracy.
Dual algorithmic journeys for building quorum
It builds quorum using two algorithms for every field. Each algorithm has different deep learning bases and maths for feature extraction methods, number of layers, loss functions etc.
Claim your POC
Take Sherlock AI for a spin with our free customised proof-of-concept for insurance providers in India. Fill the form below to claim yours now.