enherent, a provider of business analytics solutions, and G4S Compliance & Investigations, a risk management and fraud investigation company, have expanded their existing partnership to deliver Polaris, a business analytics solution for the insurance industry using IBM’s advanced analytics technology.
The partnership expands the business analytics available to G4S clients and other members of the insurance value chain, with an initial focus on fraud mitigation.
The companies said that the Polaris solution enables companies in the insurance industry to detect fraud earlier by analyzing large volumes of text (e.g. claim examiner notes, police reports, medical reports, email, etc.) as well as structured data associated with insurance claims.
In addition, it automates the analysis of claim data, reducing the amount of time insurance professionals and special investigative units spend searching, reading and organizing claim information, enabling them to uncover and address suspicious claim activity. It targets both individual and organized fraud across insurance industry segments including workers’ compensation, property and casualty, auto and health care, the companies said.
Pamela Fredette, chairman and CEO of enherent, said: “Our goal is to use business analytics to enable the right business outcomes. We believe that a detect and predict framework must combine the knowledge of people and the power of analytical technology.
“Our expanded partnership with G4S allows us to capture their fraud and investigation expertise and automate its application. This approach combines world class technology from enherent and IBM with the knowledge of G4S experts to drive business analytics.”