Carpe Data Unveils AI-Powered ClaimsX Ultra To Detect Fraud

CIOTechOutlook Team | Tuesday, 31 October 2023, 11:54 IST

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Carpe Data, the next-generation online data supplier for insurers, has introduced ClaimsX Ultra, a new AI-assisted fraud detection solution that expands on ClaimsX's award-winning claim monitoring technology. ClaimsX Ultra automates customer data collection and analysis, removing manual processes and filling in information gaps; uses artificial intelligence to detect early fraud indicators, avoiding late discoveries; and employs advanced algorithms to manage vendor risk and determine connections between involved parties. This technology speeds claim processing, decreasing manual labor and improving fraud detection.
 
We've pinpointed five critical challenges that persist across the industry, hindering the quest for precision and efficiency in claim processing,” said Max Drucker, CEO of Carpe Data. “These challenges include limited early insights from FNOL data, blind spots in early fraud detection, inadequate data on vendor and household connections, and insufficient identity validation. ClaimsX Ultra is our response to these challenges, aimed at tackling the most significant inefficiencies in claim processing so insurers can do more with less while ensuring claim handling that is both fast and fair."
 
In a landscape where triage, vendor insights, and fraud detection often fall short, ClaimsX Ultra will be key for carriers to supercharge the claim process for both accuracy and speed, allowing them to detect fraud earlier, streamline operations, and deliver a superior customer experience, as per businesswire.
 
ClaimsX Ultra is the peak of Carpe Data's dedication to boosting insurance carriers' efficiency, from the FNOL to claim settlement and subrogation, and caters to a broad range of claim types and procedures.  
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