Welcome!

News Feed Item

BAE Systems Detica wins deal with Canadian National Insurance Crime Services (CANATICS) to provide 5-year managed analytics service to detect suspicious insurance claims

BAE Systems Detica today announces that is has closed a strategic deal with Canadian National Insurance Crime Services (CANATICS) to detect suspicious auto insurance claims in Canada. The service, commissioned for a 5-year period, will initially focus on Ontario, with a view to expanding across Canada.

CANATICS is a not-for-profit organization focused on using state-of-the-art analytical tools to identify potentially suspicious claims in insurance industry pooled data to facilitate further investigation by individual insurers. By identifying these claims with participating insurers, CANATICS will provide insurance companies with an exciting new tool to aid in the investigation of insurance fraud.

The deal represents an expansion of BAE Systems Detica’s Canadian business, which operates out of Toronto, and in particular the growth of Detica’s global insurance fraud prevention offering. Detica’s NetReveal anti-financial crime solutions are currently being used by over 130 clients, spanning four continents, including six of the top 10 financial banking and insurance institutions in the world.

Automobile insurance fraud is a significant cost to consumers across Canada, and particularly in Ontario. A recent report, prepared for the Ontario Auto Insurance Anti-Fraud Task Force, estimated that as much as $1.6 billion per year is paid by insurance companies in response to fraudulent or inflated claims. The Task Force recommended that insurers move aggressively to establish an organization that would pool and analyze claims data in order to identify potential cases of organized or premeditated fraud. CANATICS has been set up to answer that call.

Detica’s NetReveal solution provides automated risk scoring and prioritization of suspicious claims as well as exposing hidden patterns of fraudulent behavior.

NetReveal effectively integrates data from multiple systems and insurers to create a single view for fraud detection and investigation with cost effective data integration and hosting. NetReveal combines predictive analytics with advanced social network analysis to identify suspicious behaviors more accurately than other solutions and detect, prevent and monitor fraud faster and earlier than other current approaches. It can also reduce exposure to organized and opportunistic fraud and improve customer service across all lines of an insurance business.

Chris Green, Managing Director, Financial Crime, BAE Systems Detica, said:

“We are truly committed to helping the Canadian insurance industry combat fraud for the benefit of Canadians. Our experience with other national insurance bodies, such as the Insurance Fraud Bureau in the UK, shows that the best way to combat insurance fraud is for a wide range of insurers to pool and analyze their data centrally. As a consequence, fraudsters can less easily escape detection.”

Ben Kosic, CEO, Canadian National Insurance Crime Services, added:

“We have chosen BAE Systems Detica to work with us on this important project as we need a partner who will provide the critical knowledge, skills and services that will enable CANATICS to provide the insurance industry with superior intelligence derived from analytics on industry-pooled data. By working with Detica, we can help ensure that investigators, at our insurance members, focus their investigations on the right claims with the ultimate goal of reducing organized and premeditated fraud in Canada.”

About BAE Systems Detica

BAE Systems Detica delivers information intelligence solutions to government and commercial customers and develops solutions to strengthen national security and resilience.

Detica is part of BAE Systems, a global defense, aerospace and security company with approximately 90,000 employees worldwide.

BAE Systems delivers a wide range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services. For more information, please visit www.baesystems.com

About CANATICS

Canadian National Insurance Crime Services or CANATICS is a non-profit organization focused on fighting insurance crime by providing insurance companies, and the industry, with superior intelligence, derived from analytics performed on industry pooled data. CANATICS maintains a relentless focus on data quality, privacy and security.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: implemen...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution. In his session at @ThingsExpo, Akvelon expert and IoT industry leader Sergey Grebnov provided an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discussed how a new approach is neces...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.