Preventing and Detecting Fraud through Data Analytics in auto insurance field

Adrian Banarescu () and Aurel-Mihail Baloi ()
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Adrian Banarescu: Postdoctoral researcher at the Institute of National Economy, Romanian Academy
Aurel-Mihail Baloi: Intergraph Computer Services, Romania

Romanian Journal of Economics, 2015, vol. 40, issue 1(49), 89-114

Abstract: Currently, in the autoinsurance field, fraud has become a real phenomenon, and insurance companies are making efforts to identify and implement effective means of fraud prevention and detection. This article aims to present the data analysis and related tools, as a possible alternative to fraud, in the context of the current information society (I-society).In the literature, data analysis processes are presented as a highly effective means for the prevention and detection of fraud, but their implementation at both inter and intra-company levels is a difficult process, because it involves organizational transformations in which the decision should be based on knowledge.Although in Romania the institutional framework for fraud detection in the auto insurance field is created, the information processes that take advantage of the potential of intangible assets (data, information, knowledge, relationships, etc.) are not systematically exploited and are not integrated into decision-making (whether strategic or operational).

Keywords: fraud; IT Systems; data analytics; network analysis; geospatial analysis (search for similar items in EconPapers)
JEL-codes: G32 K42 O39 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ine:journl:v:40:y:2015:i:49:p:89-114

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