Fraud Detection & Investigation Tools
Use when: Detecting claims fraud, application fraud, organised fraud, or suspicious behaviour.
Lifecycle stages:
Lines of Business:
Claims & Underwriting Fraud (AI / Analytics)
7 Vendors
01
Shift Technology
AI-driven claims fraud detection at scale.
Shift Technology is a Paris-founded software company specialising in AI-driven insurance fraud detection. Its flagship Force solution uses machine learning to analyse claims data and flag suspicious cases.
02
FRISS
Trust automation across underwriting and claims.
FRISS is a Netherlands-based specialist in AI-powered fraud detection and risk scoring for insurers. Its Trust Automation platform automatically checks new policy applications and claims for fraud or risk by incorporating external data sources, predictive models, and machine learning.
03
Quantexa
Contextual decision intelligence & network analytics.
Quantexa is a UK-founded decision-intelligence and network-analytics software company. Its Contextual Decision Intelligence Platform links internal and external data to uncover hidden fraud and risk relationships.
04
BAE Systems NetReveal (SymphonyAI)
Mature fraud & financial crime platform.
NetReveal (formerly BAE Systems Applied Intelligence) is a mature fraud detection and financial crime platform widely used by insurers and banks. It combines predictive analytics, rule engines and social network analysis to detect organised fraud rings.
05
SAS Fraud & Security Intelligence
Analytics-heavy fraud & AML suite.
SAS Institute’s Fraud Management suite is a well-known analytics platform. It uses AI and machine learning to score and monitor insurance transactions for fraud, and also addresses AML.
06
Synectics Solutions
UK shared intelligence & application fraud prevention.
Synectics Solutions is a UK-based fraud prevention technology firm. It emphasises shared intelligence and application fraud prevention. Synectics runs the UK’s National SIRA data consortium and other industry data pools.
07
Featurespace (ARIC)
Adaptive behavioural analytics in real time.
Featurespace is a Cambridge-headquartered company offering adaptive behavioral analytics (branded as ARIC) for fraud and risk. Its machine-learning models build dynamic profiles of entities (customers, claims, devices) and detect anomalies in real time.
Industry Wide Fraud Intelligence
2 Vendors
01
Insurance Fraud Bureau (IFB)
The UK’s central body for insurance fraud prevention.
The Insurance Fraud Bureau is the UK central industry body for insurance fraud prevention, jointly owned by insurers via the MIB. IFB manages intelligence sharing and supports insurers and law enforcement.
02
Cifas
UK cross-sector fraud prevention network.
Cifas is a UK non-profit fraud prevention service that runs the National Fraud Database (NFD) and other cross-sector fraud-sharing schemes. It has over 775 member organizations across financial services, insurance, retail, government, etc.
