Use Case: How Insurance Companies Reduce Risks and Fraud with Palturai The Growing Threat of Insurance Fraud

Insurance fraud is a serious criminal offense. According to estimates from the German Insurance Association, fraudulent claims cause €4 billion in damages annually, with corporate clients accounting for a significant share of these losses. The Palturai BusinessGraph offers insurers powerful tools to identify fraudsters and assess heightened risks.

 

Fraud has evolved far beyond traditional schemes like inflated renovation costs. Just as businesses embrace digital transformation, fraudsters have modernized their tactics, rendering conventional warning indicators ineffective. Insurers need new, data-driven strategies to stay ahead.

Automated Connection Checks: A Game Changer for Fraud Detection

Palturai empowers insurers with innovative fraud detection methods. One of the simplest and most effective strategies is a standardized claims check to identify hidden connections between the claimant and the alleged perpetrator.

Other automated fraud detection checks include:

• Cross-checking new customers against known fraud cases – Are there links between a new applicant and a flagged company?
• Identifying indirect connections – The Risk Scanner can detect proximity to high-risk entities, even if no direct link exists.
• Flagging high-risk cases for manual review – Suspicious relationships are automatically surfaced, enabling insurers to investigate further.

For large-scale fraud investigations, the BusinessGraph provides an intuitive visualization of complex structures, making it easier to analyze intricate fraud networks quickly and effectively.

Beyond Fraud Prevention: Unlocking New Opportunities

While risk and fraud management are primary applications of the Palturai BusinessGraph, insurers can leverage this technology in many other areas, including:

• Portfolio Restructuring – Before deprioritizing a small private contract, check whether the customer is also responsible for a large corporate account. Sales teams will appreciate these insights.
• Marketing & Sales Optimization – Use BusinessGraph to identify hidden connections that could lead to new business opportunities.
• Improving Customer Relationship Management – Gain a holistic view of customers, ensuring that key decision-makers receive personalized service.

Discover the Full Potential of Palturai

Interested in exploring our full range of services and use cases? Contact our sales team to learn how Palturai can help your insurance company reduce risk, prevent fraud, and unlock new revenue opportunities.

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