HEALTHCARE & INSURANCE

Healthcare and Insurance companies lost in excess of $8 billion due to fraudulent activity last year alone. In addition to combating first party fraud, external threats involving compromised accounts and intentional deception are ongoing threat vectors to both industries.  While fraud and identity theft is growing, the technology to perform high fidelity KYC and identify suspicious behavior in real-time is here to help.  

Precognitive serves a first line of defense, providing high accuracy online KYC using anonymized data to help stop fraud and stay HIPAA compliant, all while ensuring a smooth user journey.

How It Works:

Account Takeover Detection & ID Proofing

Precognitive combines an intricate set of techniques with device, behavior, and biometric data collection and analysis to produce a virtual window of user activity in real-time. Precognitive can identify and stop account takeover activity dead in its tracks by analyzing current activity against a user’s prior device and behavioral profile. 

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Fraudulent Account Openings & KYC

By capitalizing on real-time device assessment, deep data aggregation and analysis, in combination with machine learning capabilities, Precognitive understands the true context of user activity. Our technology follows each user interacting with your application process and sees how often they repeat the process, and even how they enter data. This allows us to detect problematic users and prevent them from opening new accounts. Our integration with existing ID verification services allows us to go a step further. We perform identity verification as part of the account opening screening so that we can ensure not only that the user is activating in a legitimate manner but also that their identity is valid and cross checked against data obtained through our device intelligence and behavioral analytics solutions.

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Fraudulent Account Openings & KYC

By capitalizing on real-time device assessment, deep data aggregation and analysis, in combination with machine learning capabilities, Precognitive understands the true context of user activity. Our technology follows each user interacting with your application process and sees how often they repeat the process, and even how they enter data. This allows us to detect problematic users and prevent them from opening new accounts. Our integration with existing ID verification services allows us to go a step further. We perform identity verification as part of the account opening screening so that we can ensure not only that the user is activating in a legitimate manner but also that their identity is valid and cross checked against data obtained through our device intelligence and behavioral analytics solutions.

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Fraudulent Claims & Abuse

The Healthcare and Insurance sectors are under constant attack by fraudsters. Online environments present an additional layer of risk that must be addressed. Our hybrid decision engine is able to assess user activity in real-time, rejecting fraudulent events before they take place. We do this by using your supplied event data, coupled with our device intelligence, behavioral data and machine learning models. Get a real-time allow or reject decision with every event that exposes your company to financial liability and stay a step ahead of fraud.

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Our fraud experts can help build and optimize your fraud prevention strategy.

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