Enhancing Insurance Claim Fraud Detection Through Advanced Data Analytics Techniques

Insurance claim fraud is a significant problem that can cost insurers millions of dollars each year. The use of advanced data analytics techniques such as machine learning, data mining, and natural language processing can help insurance companies to detect and prevent fraudulent activities. In this research paper, this proposes a methodology for insurance claim fraud detection that involves data collection, preprocessing, feature engineering, model selection, training, evaluation, tuning, and deployment. Also discuss the experimental setup for insurance claim and fraud detection and future scope for research in this area. Our findings suggest that the use of advanced analytics techniques can significantly improve the accuracy and efficiency of fraud detection systems, enabling insurers to detect and prevent fraudulent activities in a timely and efficient manner.

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Publication Details

Published
2024-09-27
DOI
https://doi.org/10.1109/tensymp61132.2024.10752284
Citations
27
Primary Topic
Imbalanced Data Classification Techniques
Type
article
Field-Weighted Citation Impact
9.38
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article

Enhancing Insurance Claim Fraud Detection Through Advanced Data Analytics Techniques

Priyanka Kaushik, Anand Singh Bisen, Rachna Rathore, Saurabh Pratap Singh Rathore
27 citations
Imbalanced Data Classification Techniques
9.38
article

Enhancing Insurance Claim Fraud Detection Through Advanced Data Analytics Techniques

Priyanka Kaushik, Anand Singh Bisen, Rachna Rathore, Saurabh Pratap Singh Rathore
article en
27 citations

Abstract

Insurance claim fraud is a significant problem that can cost insurers millions of dollars each year. The use of advanced data analytics techniques such as machine learning, data mining, and natural language processing can help insurance companies to detect and prevent fraudulent activities. In this research paper, this proposes a methodology for insurance claim fraud detection that involves data collection, preprocessing, feature engineering, model selection, training, evaluation, tuning, and deployment. Also discuss the experimental setup for insurance claim and fraud detection and future scope for research in this area. Our findings suggest that the use of advanced analytics techniques can significantly improve the accuracy and efficiency of fraud detection systems, enabling insurers to detect and prevent fraudulent activities in a timely and efficient manner.

Chandigarh University (IN), Jiwaji University (IN)
Peace, Justice and strong institutions
Openalex Percentile: Top 2%
Imbalanced Data Classification Techniques
9.38
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Enhancing Insurance Claim Fraud Detection Through Advanced Data Analytics Techniques — Priyanka Kaushik, Anand Singh Bisen, et al. · (2024) | TGRS Research Map | TGRS