| Solutions for Insurers |
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THE NETMAP COMPETITIVE ADVANTAGE
- Reduce the cost of fraud
- Increase profit
- Reduce premiums
- Speed up claims processing
- Increase your market share.
The costs of fraud
Insurers know the reality of claims fraud. It’s increasing,
it’s becoming more sophisticated and it’s a costly
drain on profitability. Recent Insurance Council of Australia
estimates put losses as high as $1 billion per year. Is it
a battle worth fighting? YES. Is it a battle you can win?
YES.
The opportunity
For many years now, leading US insurers have consistently
utilised NetMap solutions to effectively combat fraud. Dramatic
savings and improved profitability have been the result. (See
Success Story, US Insurance Giants
Get Nasty). NetMap now gives Australian insurers the opportunity
to secure a significant competitive advantage.
It’s not magic – it just feels
like it.
In a matter of minutes, NetMap reveals connections, links
and patterns in your data that could take you months of manual
investigation to reveal, if ever. How? Instead of looking
at single claims individually, NetMap performs a simultaneous,
in-depth analysis of ALL your data. Custom-developed for the
insurance industry, our powerful software tools draw on millions
of items of data from claims, policies, payments and medical
bills. Suspicious, previously invisible connections suddenly
become very visible (eg. multiple claims featuring the same
telephone number for a witness or doctor, or vehicle identification
number.)
KEY BENEFITS FOR INSURERS:
Fight fraud more aggressively than ever before
Rather than simply relying on tips, chance or obvious discrepancies,
NetMap gives you a depth of knowledge that allows you to uncover
complex fraud rings and elaborate schemes. It’s time
to match the fraudster's sophistication with your own!
Save investigators hours of precious time
NetMap's state of the art technology will enable your investigators
to deliver superior results faster, more effectively and at
less cost. You'll recover your missing revenue sooner!
Faster processing of genuine claims = better
customer service
Customers want a fast, convenient claim process. At the same
time, you don’t want to pay fraudulent claims. Can you
achieve both objectives? YES. NetMap's state-of-the-art,
all-inclusive system lets you eliminate some of the more time-consuming
checks and balances in your current system. This means that
you pay claims faster – a tangible competitive edge
- without increasing your risk.
Install your own software or let us do the
analysis – it’s up to you
Flexibility is a key feature of NetMap's service. You can
purchase our software as an installed product, or utilise
the services of NetMap’s expert analysts. It’s
up to you.
Enhance profits and performance
Reducing fraud costs obviously increases your profitability.
It can also allow you the opportunity to reduce your premiums
and attract more customers in a highly competitive market.
Either way, it’s good news for your bottom line and
your shareholders!
Related links:
To find out more about NetMap Solutions for Insurers contact
us today.
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