Insurance fraud is on the rise. The tumultuous nature of the last two years means that there are increased opportunities for fraudsters to try and exploit the disruption.

Insurance call centres have always been seen as an easy target for fraudsters because of the volume of calls they have to deal with daily, the speed at which operators have to resolve issues and now the fact that many insurance agents are working remotely. Agents are, of course, aware of the risks of potential fraud but must also be focused on ensuring customer satisfaction – meaning that sometimes fraudulent activity can escape their notice. But this is where Artificial Intelligence and speech recognition can help to keep both businesses and customers safe.

According to a 2021 survey, approximately 31% of insurers have already deployed the use of AI in their companies, while a further 23% said that they had plans to start using the technology in the next year. There are a variety of benefits to implementing AI and voice recognition systems into business practice, improving efficiency and eliminating the risk of human error.

Voice AI, such as Intelligent Voice’s LexiQal system, can detect patterns in the behaviour, speech and language that are frequently displayed in fraudulent calls, which means that companies can better develop an algorithm to filter out these phone calls without them ever reaching an agent in the first place. This makes processes altogether more efficient and is especially useful for large companies dealing with a very high volume of calls on a day to day basis.

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