Insurer working with Carpe Data to automate and accelerate their claims processes
Zurich has found a new ally in the fight against increasing claims costs. The insurer is now working with Carpe Data, a California-based company whose innovative use of alternative and emerging data provides Zurich with improved claims processing efficiency and a major advantage in fighting fraud.
Zurich is now working with Carpe Data, a California-based company whose innovative use of alternative and emerging data provides the insurer with improved claims processing efficiency and a major advantage in fighting fraud.
Carpe Data’s innovative claims monitoring solution ‘ClaimsX’ gives Zurich the power to leverage publicly available web data for real-time assessment and automated decision making, from first notice of loss to settlement. Through ClaimsX’s highly predictive online content, Zurich proactively audits injury claimants and identifies cases where the claimant’s profile is at odds with the claim presented. This not only stops fraud in its tracks, but also allows legitimate claims to be paid faster.
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After a successful pilot in 2019, Zurich UK is now implementing the solution at scale in 2020. “Carpe Data is the latest addition to Zurich’s ongoing innovation programs focused on transforming the future of insurance,” said Zurich Head of Claims Fraud, Scott Clayton. “[Carpe Data] supports Zurich’s ongoing efforts to improve the claimant experience by expediting low-risk claims, and by providing new insights to help our people make informed, accurate, and timely decisions.”
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“Data and technology play an integral role in catalysing change across the insurance industry, and Zurich recognizes that,” said Carpe Data COO and co-founder Geoff Andrews. “We’re excited to join forces with such a globally-minded and forward-thinking partner to streamline claims and bolster their fraud prevention efforts.”
