“We are proud to expand our partnership with Tokio Marine and work together to reduce insurance fraud and other instances of loss to bad actors. Metromile Enterprise’s technology provides Tokio Marine with richer context and more sophisticated claims segmentation so that they can catch more fraud, more accurately and cost-effectively,” said
Tokio Marine, the largest insurance group in
“By combining artificial intelligence and the specialized know-how of our claims professionals, we can detect fraudulent claims more accurately and efficiently. Metromile DETECT helps our team respond to each case with a greater sense of urgency and further improve the quality of our claims service,” said Tokio Marine Group Section Head
Tokio Marine integrated Metromile DETECT with its existing claims infrastructure in less than four months, much faster than the typical six months to more than a year insurance carriers take to implement a new digital initiative.
In its first month of deployment, Metromile DETECT equipped Tokio Marine with the ability to check all new claims for fraud, increasing customer and employee satisfaction with faster claims resolution. Metromile Enterprise’s artificial intelligence scans claims in seconds and routes claims to the appropriate divisions, building a feedback loop with an insurer’s investigative experts.
“As much as 40% of property and casualty claims have some element of fraud. Metromile Enterprise empowers insurers to use modern machine learning models to catch more fraud than computerized rules-based approaches or human detection,” said Metromile Enterprise General Manager
Metromile DETECT enhances claims investigations and enables straight-through processing with machine learning. Its accompanying decision support system, pre-packaged with more than 140 features, surfaces the models’ predictions, interprets its results and helps fraud experts choose claims to investigate at the right time. Insurance carriers use the tool to replace or supplement their existing rules-based anti-fraud technology that can be expensive to maintain and update.
To learn more about how insurance carriers can incorporate machine learning to reduce losses and time spent processing claims, visit enterprise.metromile.com, and schedule a free demo.
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In addition, through Metromile Enterprise, it licenses its technology platform to insurance companies around the world. This cloud-based software as a service enables carriers to operate with greater efficiency, automate claims to expedite resolution, reduce losses associated with fraud, and unlock the productivity of employees.
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Established in 1879 in
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