Huatai Property Insurance of China will be reducing losses from auto insurance claims fraud by using FICO's insurance fraud protection solution. The solution will also help accelerate claims processing and improving customer service, as per a vendor statement.
Liao Yinghui, Vice President of Huatai Insurance, states that Huatai has a clear and specific goal to reduce costs associated with fraudulent claims while delivering a superior experience to their customers and they are confident that FICO’s fraud protection solution will help them achieve their goal. By identifying frauds more accurately and minimizing false positives, FICO’s solution enables Huatai Insurance to provide greater flexibility in processing and faster settlement of majority of claims that do not require reviews, avows the vendor.