Leveraging Claims Data
A network of objects that transmit data to each other and to central hubs through the internet.
What is Internet of Things?
Any deliberate deception committed against an insurer or an insurance producer for the purpose of unwarranted financial gain.
What is Insurance Fraud?
The study of what constitutes good and bad behavior, dealing with moral duty and obligation.
What is Ethics?
The use of technological devices to transmit data via wireless communication and GPS tracking.
What are Telematics?
Actions that are undertaken deliberately to defraud.
What is Hard Fraud?
A law that stipulates the length of time after an event during which legal proceedings (such as a lawsuit or criminal charges) may be initiated.
What is Statute of Limitations?
The analysis of large amounts of data to find new relationships and patterns that will assist in developing business solutions.
What is Big Data?
An accident deliberately caused by a person who intends to feign injury and collect on the ensuing claim.
What is a Staged Accident?
A wrongful act or an omission, other than a crime or a breach of contract, that invades a legally protected right.
What is a Tort?
A supervised learning technique that uses a structure similar to a tree to segment data according to known attributes to determine the value of a categorical target variable.
What is a Classification Tree Analysis?
Fraud that occurs when a legitimate claim is exaggerated
What is Soft Fraud?
(or opportunity Fraud)
A common-law principle that prevents a person who has been harmed from recovering damages if that person's own negligence contributed in any way to the harm.
What is Contributory Negligence?
An interdisciplinary field involving the design and use of techniques to process very large amounts of data from a variety of sources and to provide knowledge based on the data.
What is Data Science?
A distributed digital ledger that facilitates secure transactions without the need for a third party.
What is Blockchain?
A person or an organization that has committed a tort.
What is a Tortfeasor?