Fin-Tech 

 

The insurance market (private, state and health care) is constantly seeking new ways to detect fraudulent claims, identify high-risk clients and improve the underwriting and claims processes.

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The credit and loans markets suffer from significant losses. In addition, as more and more loans are shifting to non-bank institutions and Fin-Tech lenders, there is a growing demand for new ways to check the credibility of lenders.

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These markets can benefit significantly from using Aletheia to assess credibility for insurance, credit and loans applicants.

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Value proposition for insurer:

• Identify fraudulent claims faster

• Reduce the workload placed on investigators

• Investigation cost savings

• Competitive advantage

 

Value proposition for insured:

• Faster claims payments

• Less intrusive process

• Premium savings

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Statistics:

• $100B - annual losses due to fraudulent claims

• 2% - claims being referred to special investigators

• 60% - investigated claims being paid

• $1.8T - loans by non-bank institutions

• $55B - annual losses due to bad commercial loans