The CO REACT Platform
On demand or dynamic fraud REACTment by combining multiple technologies and multiple data sources to maximize results accuracy, and to efficiently identify fraudulent claims
Covariance has designed an advanced AI -based solution for car insurance fraud detection. CO React is a great solution for screening any claim in order to identify possible fraudulent behaviors.
Dynamically linked to company’s database
User Friendly environment
Customizable to company's requirements
Dedicated CO’s proprietary mobile app available
Are you intersted in CO REACT?
Contact us to discuss how your insurance business can benefit from CO REACT.
Contact usCO REACT Minimizes Cost & Expenses
CO REACT Platform assesses all claims, and flags possible fraudulent ones, prior to reimbursement.
Administrative Cost Reduction
Operational Cost Reduction
Inspection Cost Minimization
Expenditure Control
Claims Prediction
Strategic Advantage in Pricing
Strategic Advantage in Underwriting
Ultra-High ROI
CO REACT Optimizes Claims Management & Claims Processing
CO REACT Platform combines multiple technologies, multiple data sources, and significant expertise of the leading team to maximize results accuracy, and to efficiently identify fraudulent claims. CO REACT Platform optimizes claims management and claims processing, trough introducing a paperless process.
Making claims settlement faster using an easy-to-use one-stop-shop
Safeguarding data safety since all processes are internal
Predicting future claims
Offering real time claims and fraud analytics
Key Features
All your data connected in one place
Embedded Visualization Tools
No code needed, easy application in just a few clicks
Scalable for vast amount of data
Dynamic Dashboards
Machine and Deep Learning Algorithms
Risk analysis reporting capabilities
Claims predictive analytics capabilities
AI-based Components
Fraudulent claims can be assessed and flagged, prior to reimbursement, using an advanced machine learning component that analyses available structured claim data.
Using powerful deep learning algorithms, the image analysis component can detect and assess cars that have been involved in accidents in the past. In addition, the image analysis component performs antiphotoshop tests to identify any possible photoshopped images.
The network analysis component combines ultra-modern technologies to enhance the insurance claims evaluation process. Using the claim information data, the network analysis component generates a possible fraud network map, including various parties (individuals and service providers) that may be involved in possible fraud.
Metadata analyzer component is an optional functionality which requires, the driver to use, a dedicated mobile application that collects and analyzes data in real time. Its purpose is to present the user's profile and provide information on several driving characteristics and possibly suspicious fraudulent actions.
This component applies standard empirical rules to the data in order to flag possible fraudulent cases.
This component applies dynamic comparative analysis in order to identify fraud cases based on the claim data size.
About COVARIANCE
Covariance is empowering leading healthcare organizations to deliver Data-Driven and AI solutions that shape the industry, while supports them to maximize their customers’ value and minimize risks & costs by integrating real-time analysis into existing systems and processes.
- Unique expertise in Artificial Intelligence in Healthcare.
- Strategic consulating in Healthcare business.
- Digital Transformation in Health & Insurance.
- Innovation in Genomics % Real World Data.
- Health Services Development % Improvement.