The Coalition Against Insurance Fraud estimate that frauds costs $80 billion a year across all lines of insurance. In a highly competitive industry reducing such a cost is an obvious path to improving profitability. Any reduction in fraud will directly impact an insurance company’s bottom line.

Companies have invested into IT to streamline their claims processing. Sometimes an automated claim should merit human analysis. Intelligent Fraud Detection is a solution that helps you determine the conditions or rules that stop claims that may be grounded on false data or where the data is correct but the underlying elements of the claim are not justified. Profium Sense for Intelligent Fraud Detection is an ideal tool for this purpose. Data used by the rules to detect fraud may come from a diverse range of sources such as photographic metadata, geographical data and social media. With Profium solution your analysts can develop rules which take different fraud scenarios into account and save those rules to test and production environments without delays from IT.

Job portals have become a popular place for corporations to place their ads for new vacancies in the hope that skilled individuals would find them and apply for them. Often such portals provide traditional search interfaces based on forms. Both applicants and employees will then have to try several values for fields such as title to see if there are any interesting results that match their criteria. This traditional search can be greatly improved with semantic search. A new growing trend for semantic employment matching is skill based matching.

In the era of ‘big data’ software systems are commonly dealing with large amounts of complex data which may be generated by a diverse range of sources. Conventional relational databases require specifying the structure of the data up-front, and the complexity of the database design rapidly increases with the complexity of the relationships between concepts in the data. Alternatively, a graph database can come closer to modeling the real-life relationships between data and represent data in a structure that more closely models real world relationships between concepts. Profium Sense, a NoSQL in-memory graph database and Rule Engine, processes real-time flows of data, and offers rule-based inferencing and Semantic AI for real time content distribution.

Rule-based systems such as Profium Sense get their rules from users who understand a business domain well enough to put some of the human intelligence in form that is understood by computers. Sometimes these rules come from years of experience and allow a business to excel against competition. Sometimes these rules come from the business environment in the […]