Fighting insurance fraud: a marriage of privacy and big data

Supported By:

Net Patrol International Inc.  Data Investigation and Forensic Services
Bankruptcy and Insolvency Trustees

Canadian National Insurance Crime Services (CANATICS) recently became one of the first organizations to receive Privacy By Design (PbD) certification from the Privacy and Big Data Institute at Ryerson University. CANATICS is a not-for-profit corporation established by Canadian insurance companies to assist in combatting organized and premeditated insurance fraud in a manner that protects and respects individual privacy. CANATICS uses state of the art data analytics technology to identify potentially suspicious insurance claims in data pooled across participating insurance companies. CANATICS only provides an alert for potential fraud; it is mandatory for the insurance company to conduct further investigation before making a decision in relation to each alerted claim before it makes a decision.

By: Alexander Adeyinka
Read the full article at Mondaq.