BAE Systems Applied Intelligence Wins Contract with Progressive to Provide Fraud Detection and Monitoring Solution
BAE Systems Applied Intelligence announces that top five US insurer Progressive® Insurance has selected the NetReveal® general insurance counter-fraud solution
Online, September 15, 2014 (Newswire.com) - BAE Systems Applied Intelligence today announces that top five US insurer Progressive® Insurance has selected the NetReveal® general insurance counter-fraud solution to augment Progressive’s identification of claims fraud in the personal auto insurance sector. The service will be integrated into Progressive’s advanced internal systems and operations to enhance fraud detection.
The NetReveal solution will help Progressive address the growing risk of opportunistic, premeditated and organized claims fraud in personal auto insurance. Utilizing the advanced network analytics and the robust alert and case management system, Progressive will supplement its ability to identify claims fraud. Additionally, the network based detection, will help to determine potentially collusive behavior earlier in the claims lifecycle.
Jeff Moore, Senior Process Director for Special Investigations, Progressive, said:
“The deployment of NetReveal will help us more accurately identify which claims to investigate for potential fraud. Our priority is to reduce the impact of insurance fraud on our customers.”
Jim Anderson, President of the Americas, BAE Systems Applied Intelligence, added:
“As fraud attacks rise and become more sophisticated, insurance carriers are looking to specialized software providers, like BAE Systems Applied Intelligence, to provide the next generation of fraud detection tools. Our NetReveal solution will help Progressive with evaluating the risk of claims throughout the lifecycle, reducing fraud leakage on a pre-payment versus post-payment basis. Addressing the threat at the pre-payment level, helps insurers manage escalated pay and chase investigations while helping to stabilize costs and decrease the effects of fraud on customers.”
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Media Contacts:
Jena Murphy, US PR Manager, BAE Systems Applied Intelligence:
Tel: 001 617-235-8862
Mobile: 001 617-513-0265
Email: jena.murphy@baesystems.com
Eric Hazard, Articulate Communications on behalf of BAE Systems Applied Intelligence:
Tel: 001 212-594-5502
Mobile: 001 917-664-9434
Email: ehazard@articulatecomms.com
About BAE Systems and BAE Systems Applied Intelligence
At BAE Systems, we serve the needs of our customers by delivering a wide range of advanced defence, aerospace and security solutions that provide a performance edge. We work together with local partners to develop, engineer, manufacture and support the innovations that increase defence sovereignty, sustain economies and safeguard commercial interests. With some 84,600 employees in six continents, we are committed to creating solutions that protect and strengthen nations, commerce, communities and people.
BAE Systems Applied Intelligence is a business division of BAE Systems that delivers solutions that help clients to protect and enhance their critical assets in the intelligence age. Our intelligent protection solutions combine large-scale data exploitation, ‘intelligence-grade’ security and complex services and solutions integration. We operate in four key domains of expertise: cyber security, financial crime, communications intelligence and digital transformation.
Leading enterprises and government departments use our solutions to protect and enhance their physical infrastructure, mission-critical systems, valuable intellectual property, corporate information, reputation and customer relationships, competitive advantage and financial success.