A leading insurance company reduces P&C claims fraud by 23% using Predictive Analytics. The Client experienced major revenue losses due to the highly evolved fraudulent claims. The business entity was in urgent need of a smarter data analytics solution that could raise red flags and identify fraud practices and claims. The aim of the client was

• To detect fraudulent claims and reduce revenue loss
• To analyze extensive real-time data, raise red flags and identify fraudulent claim bills

The predictive data analytics solution designed by Payoda could sift through huge volumes of real-time data, identify false bills, raise appropriate red flags, perform data analytics and generate visualization reports. This helped the client to reduce P&C claims fraud by 23% and enabled a cost saving of 12.38%.