Allianz develops machine-learning tool to support growing fraud claims

Allianz UK has developed a “cutting-edge” machine-learning tool called Incognito, which identifies potentially fraudulent claims that are later referred to a fraud expert for thorough review and investigation.

Since its development, the claims identified have saved £1.7m to date with a further £3.4m held in claim reserves pending conclusion of the investigations.

“Our internal drive at Allianz has always been to put our customers front and centre. The development of ‘Incognito’ has ensured that we enhance the market-leading service that we provide to our customers. We have been able to settle claims quicker and identify fraud at the earliest opportunity.” – James Burge, head of Counter-Fraud at Allianz Commercial.

“The success of Incognito is shown through its cost-saving approach, consistent fraud detection rate over time, automation capabilities, and regulatory compliance. Our partnership-driven approach and use of technology has set a new blueprint for combatting fraud and protecting our genuine customers and their premiums.” – Alex Sorrie, head of claims data at Allianz Commercial.