Netherlands-based financial services provider Delta Lloyd has signed an agreement with SynerScope to use its visual analysis software for detection and prevention of insurance fraud.
The software is scheduled to be deployed by the company for analysis of insurance claims.
Delta Lloyd Group Integrity director Hanneke Rossino said the company has searched for a strategic analytical solution to become a major player in combating fraud.
”SynerScope offers a powerful solution for the analysis of large amounts of claims data in one single session and is both efficient and user friendly," Rossino added.
Speaking about the teaming agreement, SynerScope CEO Jan-Kees Buenen said the cooperation will enable Delta to actively influence its product development.
The software enables direct plotting of very large tables of data into a rich graphic representation, leading to rapid and efficient analysis, as opposed to legacy solutions that require data coding and capturing in models needing regular maintenance by vendor staff.
Majority of frauds reported to Dutch Center for Prevention of Insurance Fraud each year are associated with car, fire and health insurance claims, and are estimated to cost €1bn per year.