Innoseti: Antifrod

Main article: Fraud Detection System

2023: Module Presentation

The Innoseti company on April 26, 2023 presented a module for detecting fraud in cargo insurance based on AI.

The Antifrod module is based on the company's flagship product, the Tsunami cargo streaming insurance support platform. It uses algorithmic intelligence, which allows you to analyze large amounts of data on insurance objects and claims and automatically identify suspicious operations. Thus, potential scammers can be discovered even before they cause damage.

The Antifrod module simultaneously checks dozens of parameters for each operation: cargo type, details, destination region, presence of a lawsuit at the carrier, frequency of claims, level of company unprofitability, level of risk by type of cargo, etc. In this case, the parameter sets are combined into schemes. If a shipment or claim fits a particular pattern, the system automatically labels the transaction as potential fraud.

Service users can choose how Antifrod behaves when a suspicious operation is detected. This can be an email alert or a claim highlight right on the platform. Based on such notification, responsible employees can quickly check the counterparty and take action. All suspicious counterparties are marked in Tsunami. This information can be used not only by employees of the company that identified suspicious actions, but also by other users of the platform if they work with the same counterparty.

According to Innosteti's internal analyst, in 2022, using a service on the Tsunami platform, suspicious transactions were detected in the amount of 27 times more than those identified by insurance companies' own security services.