Implementing Machine Learning for Fraud Detection in Insurance Claims

Insurance fraud is rising, costing the industry billions annually. It’s a growing problem that affects companies and honest policyholders. Don’t lose hope just yet — machine learning is stepping up as the transformative solution you’ve all been waiting for.

What Is Insurance Fraud?

Insurance fraud is the act of lying to receive benefits from a claim you’re not entitled to. This dishonest behavior is rampant across various types of insurance — health, auto, and life. The cost of this fraud …

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