Zurich goes live with Detica NetReveal for fraud prevention and detection

Zurich Insurance Company in Italy has gone live with the multi-award winning Detica NetReveal^® OnDemand managed service for claims fraud prevention

26-1-2013 — /europawire.eu/ — This is the first deployment of Detica NetReveal in Italy and the solution forms part of Zurich’s global rollout, building upon its existing implementations across the group, of Detica NetReveal in both general insurance and life & pensions.

The OnDemand solution is a fast and flexible ‘Software as a Service’ offering which aids the prevention, detection and investigation of fraud as a secure web-based managed service and provides cost effective data integration and hosting.

It aims to enable Zurich to benefit from the rapid, flexible implementation of a new insurance claims counter-fraud system without the capital expenditure usually associated with large IT projects.

Andrea Lorenzoni, Chief Claims Officer, of Zurich in Italy said:
“Deploying Detica NetReveal as a managed service helps us to bring state of the art fraud detection to our operations, without significant up front IT expenditureand with limited house resources. We are already realising substantial benefits in terms of levels of fraud detected.”

Detica NetReveal consultants worked closely with investigators from Zurich in Italy to fine tune the technology specifically to the requirements of the Italian insurance market, across both motor and property lines of business. The system currently provides automated risk scoring and prioritisation of new claims as well as exposing hidden patterns of fraudulent behaviour. Investigators are now able to focus on high risk claims and speed up the handling of legitimate claims.

George Robbins, Director and General Manager UKIMEA, Detica NetReveal said:
“Working in partnership with Zurich has shown that the Italian insurance market stands to benefit greatly from flexible, low cost Software as a Service deliveries. For global players, the ability to host the same technology either in-house or on demand offers a range of options that can match the fraud problem on a country by country basis. Zurich is now sending a strong message to fraudsters as well as protecting its honest customers.”

Media Contacts:

Natasha Davies, Head of PR and Media, BAE Systems Detica
Natasha.davies@baesystemsdetica.com
Telephone +44 (0) 20 7812 4274
Mobile: +44 (0) 7787 297 831

Sally Lyden, Articulate Communications Inc.
slyden@articulatecomms.com
Telephone +1 212 255.0080, ext. 11

ABOUT DETICA NETREVEAL

Detica NetReveal is a leading provider of risk, fraud and compliance solutions to a wide range of financial services and government clients across the globe. The NetReveal suite of solutions combines predictive analytics with advanced social network analysis to identify suspicious behaviours more accurately than other solutions.

The power of our approach lies in the combination of specialist industry expertise with proven technology. We provide our clients with intelligence to more accurately assess the risk of the individual by better understanding the risk associated with the networks in which they operate. With over 130 clients across five continents, including six of the world’s current top 10 financial institutions, Detica NetReveal has a proven track record of tackling fraud, improving operational intelligence and reducing financial losses and reputational risk. Detica NetReveal, incorporating Norkom Technologies, is a business division of BAE Systems Detica.

For further information, please visit www.deticanetreveal.com

ABOUT BAE SYSTEMS DETICA

BAE Systems Detica delivers information intelligence solutions to government and commercial customers. We help them collect, exploit and manage data so they can deliver critical business services more effectively and economically. We also develop solutions to strengthen national security and resilience.

We integrate and deliver world-class solutions to our customers’ most complex operational problems – often applying our own unique intellectual property. Our services include cyber security, managing risk and compliance, data analytics, systems integration and managed services, strategy and business change and the development of innovative software and hardware technologies.

Detica is part of BAE Systems, a global defence and security company with approximately 100,000 employees worldwide. BAE Systems delivers a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services.

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