~$1 trillionAnnual net written premiums in the United States
$80B-$100BYearly fraud estimation for USA only
>100%Average cumulative Loss Ratio in 10 years for top 10 countries
$35BAdditional profit to insurance companies in top 10 countries due to 1% Loss Ratio reduction
As an insurance carrier, proper risk evaluation is vital to your business.Yet cases of fraud continue to rise, with deceptive claims being caught- only in retrospect.
In fact, Insurance companies in 10 leading countries show a 75% cumulative loss-ratio during a 5 years period , and above 100% in 10 years.
It seems that the old fashioned styles of insurance quotation can no longer keep up with the true user’s behavior, and with fraudulent claims becoming more and more sophisticated, your data just isn’t enough.
A life changing solution, getmeIns™ is a mobile first platform that incorporates user behavior analytics and link analysis to prevent insurance fraud at point of sale and significantly reduce Loss Ratio.
By using behavioral analytics, link analysis, machine learning, and advanced visual algorithms, getmeIns™ specializes in generating a stream of valuable alerts and fraud predictions for insurance providers around the globe.
Mobile first platform that uses behavioral analytics technology to promote more personalized insurance products and to detect potential fraud at point of sale (vs. at claim).
comprehensive solution allows insurance providers to reduce Loss Ratio and gain additional profit on their main business.
|Profiling process starts with learning a real user behavior with integrated IoT mobile first platform. We generate unique user profiles based on personal activities, habits and lifestyle. Further we use open data sources as well as insurance carrier provided data sources to extract general sentiment and identify potential risk factors.|
|getmeIns™ platform is designed to process huge amounts of structured and unstructured data. Our analytical engine employs up-to-date graph database technologies to perform link analysis and identify possible fraud rings. We combine multiple database technologies both relational and No-SQL to perform data fusion. Specifically crafted photogrammetry algorithms allow us to process car damage photos taken with cell phone cameras without using special expensive equipment.|
|Adaptive learning is used to create meaningful user profiles. getmeIns™ analytical engine generates risk score by combining user profile with OSINT (Open Source Intelligence) data and link analysis. The score is generated at point of sale when user purchases its first insurance product and it is constantly evaluated when new data arrives.|
|4||Alerts & Reports|
|Possible fraud signals such as behavior anomalies, participation in fraud ring, sentiment change and other alerts generated at point of sale are automatically streamed to the insurance carrier in real-time to defeat potential fraud.|
|Behavioral analytics in conjunction with our fraud prevention framework allows us to build smart quotes that truly reflect real user behavior. With our "Pay as you Live" philosophy we empower the users to customize their insurance coverage at the tap of a button and purchase insurance products according to their daily needs and changing lifestyles at most convenient price.|
Unique fraud score
Identifying fraud rings
From assumptions to real user behavior
|With getmeIns™ you can easily turn on and off different insurance coverages on demand, track your insurance expenses and simplify claim management process.|
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