Aviva, RSA, Munich Re and Zurich discussed using data enrichment to speed up valid claims and flag up potential exaggeration or inflation

Controlling claims costs and satisfying legitimate claimants do not have to be mutually exclusive of one another.

By using data enrichment an insurer can quickly build up a more complete picture of a policyholder to enable them to ascertain the validity or otherwise of a reported loss.

Insurance Post and Carpe Data hosted an interactive live webinar where an expert panel discussed how this validation can mean quicker payments for honest claimants, whilst also helping insurers to improve their loss ratios.

Topics covered were:

• What data strategies do insurers presently have when it comes to claims; and how are these evolving to match the increasingly digital footprint of their customer?
• What are the benefits of combining structured and unstructured data to get a fuller picture of a claimant?
• How can insurers reduce end-to-end cycle times through automated decision making?
• Why is data key to achieving real time claims monitoring from first notification of loss onwards?
• What data sources offer the greatest insight into the validity of a claim or otherwise?

Joining us for the discussion were:

• Andrew Lowe, business development director, Carpe Data.
• Chris Thompson, global head of mobile & head of public websites, Aviva.
• John Pyall, MGA Cockpit, Munich Re.
• Adele Sumner, head of counter fraud & financial crime, RSA.
• Kat Scott, intelligence team leader, claims investigation unit, Zurich.

Click here to watch the on-demand webinar

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• Topics
• Big data
• Data analytics
• United Kingdom (UK)
• Technology