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AI-backed ClaimShare tackles duplicate claims fraud

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Dutch insurtech ClaimShare has announced it is the first application that allows for the detection and prevention of potential duplicate claims fraud.

ClaimShare is used by insurers to securely share claims data in a decentralised, compliant manner. Its new fraud detection feature makes it possible to “finally detect and tackle possible duplicate claims fraud with outstanding efficiency and accuracy,” it says.

Product Manager Steven Eliaerts says most cases of duplicate claims fraud involve fraudulent third parties – organisations such as garages, doctors, and brokers facilitating “illegal schemes for dishonest policyholders”.

“With these additional capabilities, ClaimShare is now even more effective in the fight against possible organised crime,” he said.

ClaimShare, developed by digital finance and integration specialist IntellectEU, uses R3 computing platform Conclave and artificial intelligence to compare data securely to confirm instances of duplicate claims.