Artificial Intelligence helps Aegon get smarter on claims

Data experts at Dutch insurer Aegon have developed a computer algorithm capable of quickly identifying suspicious claims. The tool, already tested at several of Aegon’s divisions in the Netherlands, complements traditional methods, making them faster, more efficient, and more effective at paying out genuine claims. “It’s a win-win for both Aegon and our customers,” says Olaf van Haver, Senior Data Analyst at Aegon’s Center of Excellence for Digital. “Genuine claims will be identified and paid out directly, and Aegon’s exposure to fraud is reduced.” Bottom Line: an attempt to combat false insurance claims – which accounts for as much as 10% of all European payouts .