Allianz builds ‘Incognito’ tool to tackle growing fraud claims

Experts from across the Allianz UK business have collaborated in developing and building a machine-learning tool called ‘Incognito’.

It identifies potentially fraudulent claims, which are then referred to a fraud expert for thorough review and investigation.

Since its development, the claims identified have saved £1.7 million to date with a further £3.4 million held in claim reserves pending conclusion of the investigations.

James Burge, Head of Counter-Fraud at Allianz Commercial, said: “Our internal drive at Allianz has always been to put our customers front and centre. The development of Incognito has ensured that we enhance the market-leading service that we provide to our customers. We have been able to settle claims quicker and identify fraud at the earliest opportunity.”

The huge growth in the use of artificial intelligence, robotics, animation, and the sophistication behind these technologies has meant that impact from an ethical, legal, and regulatory standpoint had to be considered. Allianz’s Risk and Regulatory teams formed an important part of the project team to ensure compliance at every step.

Alex Sorrie, Head of Claims Data at Allianz Commercial, added: “The success of Incognito is shown through its cost-saving approach, consistent fraud detection rate over time, automation capabilities, and regulatory compliance. Our partnership-driven approach and use of technology has set a new blueprint for combatting fraud and protecting our genuine customers and their premiums.”