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In this week's design blog I have the pleasure of introducing our newest guest blogger, Simon Kirby. Simon is a Director of SI Industry Solutions with our Financial Services group out of the UK and has prepared an introduction and video that shows you how Qlik Sense can be used to analyze car insurance claims data.

Insurance Whiplash Fraud

It was recently announced in the UK that car insurance premiums are at their highest ever levels (The Actuary Magazine) and one of the key factors for this is an increase in whiplash injury claims. In addition to legitimate whiplash injury claims, insurance companies are struggling to cope with an increasing trend in fraudulent whiplash claims. These claims occur when a third party deliberately creates an accident by causing another car to crash into the back of them. They then feign a whiplash injury and receive thousands in compensation. It’s been discovered that these people repeat these accidents regularly and effectively earn a living from scamming the insurance industry.

How Qlik Sense can help

A key weapon for insurers in identifying these fraud perpetrators is the analysis of data. Insurers need to be able to search for associations in data between similar types of claims, in similar locations, including something unique like a mobile phone number. These associations between the data can lead to a significant increase in identifying the groups of people that commit these types of fraud. This is exactly where Qlik Sense can play an important role in this activity.  The QIX Associative engine, at the heart of Qlik Sense, is designed to make the discovery of these associations easy and intuitive. Together with the ability to quickly create drag and drop visualizations, Qlik Sense can help Insurance Fraud Analysts identify trends, patterns and examples of fraudulent Whiplash claims. (view more about Qlik's Associative Model: Qlik Snippets - The Qlik Associative Model - YouTube and Qlik's Associative Model - Part I - YouTube)

See and try it for yourself

The next step for insurers would be to combine the power of Qlik Sense with their fraud detection models.  The result would be a Qlik Sense visualization embedded into the claims system that showed the claims handler the real-time results of the fraud model at the time of the Notification of Loss.  This would allow the insurer to push suspicious claims to a dedicated fraud management team for further investigation which could potentially save the company millions.

If you would like to see how Qlik Sense can be used to identify claims fraud, take a look at our video on YouTube and the attached Qlik Sense app. For more details on this app, please visit this link available on the Qlik Financial Services Community site: Insurance Claims App

Regards,

Simon Kirby

Director, SI Industry Solutions - Financial Services

Qlik

NOTE: To increase resolution or size of the video, select the YouTube logo at the bottom right of the player. You will be brought directly to YouTube where you can increase the resolution and size of the player window. Look for the 'settings' gears icon in the lower right of the player once at YouTube.

Can't see the video, YouTube blocked? Download the attached .mp4.

If using Qlik Sense Desktop please copy .qvf file to your C:\Users\<user profile>\Documents\Qlik\Sense\Apps and refresh Qlik Sense Desktop with F5. If using Qlik Sense Enterprise Server please import .qvf into your apps using the QMC - Qlik Management Console.