BAE Systems Detica has signed a 5-year analytical deal with the Canadian National Insurance Crime Services (CANATICS) to detect suspicious auto insurance claims in Canada.
The service will initially focus on Ontario, with a view to expanding across Canada.
The objective of CANATICS is to use analytical tools to identify suspicious claims in insurance industry pooled data to facilitate further investigation by individual insurers. By identifying these claims with participating insurers, CANATICS will provide insurance companies with an exciting new tool to aid in the investigation of insurance fraud.
Detica’s NetReveal anti-financial crime solutions are being used by over 130 clients, spanning four continents, including six of the top 10 financial banking and insurance institutions in the world.
A recent report, prepared for the Ontario Auto Insurance Anti-Fraud Task Force, estimated that as much as $1.6 billion per year is paid by insurance companies in response to fraudulent or inflated claims.
NetReveal combines predictive analytics with advanced social network analysis to identify suspicious behaviors more accurately than other solutions and detect, prevent and monitor fraud faster and earlier than other current approaches. It can reduce exposure to organized and opportunistic fraud and improve customer service across all lines of an insurance business.
Meanwhile, BAE Systems is leading an effort to simplify the work of intelligence analysts who manually process volumes of complex data from multiple sources. The work will be performed under a $79 million contract as part of Phase 2 of the Defense Advanced Research Projects Agency’s (DARPA) Insight program.
The Insight program seeks to develop a system that will serve users across various defense organizations by automatically fusing data from numerous sensors and using algorithms to discover and predict behaviors of possible threats.
BAE Systems will lead the Phase 2 team, which includes Lockheed Martin Advanced Technology Laboratories, SAIC, Charles River Analytics, Intific, Aptima, HF Designworks, and PatchPlus Consulting. The team is working to mature the system by adding capabilities to integrate information from sources including space, air, sea, and ground sensors, human reports, and intelligence repositories.
During the first phase of the Insight program, BAE Systems developed an automatic/semi-automatic system for exploitation and resource management, as well as sensor models for testing the Insight system under a wider variety of operational conditions. Phase 1 focused on supporting tactical brigades and battalions in irregular warfare scenarios.