Innovative non-statistical approach allows insurers to pinpoint risks overlooked by traditional statistics
London/Frankfurt, March 14, 2013 – Financial services analysis firm Celent published report titled ‘Claims Fraud Detection Systems: 2012 IT Vendor Spectrum’ by respected insurance Senior Analyst Nicolas Michellod (bio).
This research note profiles BearingPoint's HyperCube, a complex event intelligence solution, specifically applied to insurance fraud detection issues.
HyperCube is a root cause analysis tool capable of processing huge amounts of data to reveal risks or opportunities previous undetectable by traditional statistical methods.
Managing claims fraud always has been known to have a direct impact on bottom line. With HyperCube, insurers can also have a finer appreciation of multiple non-correlated variables to build new or improve existing fraud solutions. In addition it addresses actuarial calculations and allows a more selective approach on risk underwriting, a top line contributor.
Patrick Maeder, BearingPoint partner and global insurance segment leader.
- An excerpt of the report can be found on the BearingPoint’s analyst reports page: http://bitly.com/BearingPointAR
This 4 page excerpt details aspects the HyperCube solution. The report does not rank the vendors.
- Link to the report on Celent’s website (subscription required)
- HyperCube page on BearingPoint.com
- BearingPoint Acquires a Major Stake in Business Analytics Software "HyperCube" (press release)
- HyperCube BearingPoint Institute video: link
- HyperCube image: link
- IDC report on HyperCube on BearingPoint’s analyst report page: IDC - BearingPoint and HyperCube®: Taking Analytics beyond Statistics with Asset-led Consulting - Download this report (PDF, 125KB)
BearingPoint delivers business consulting with management and technology capabilities. As an independent firm with European roots and global reach BearingPoint serves leading companies and public sector organisations world-wide to align and optimise processes, IT and operating models with business strategy. Driven by a strong entrepreneurial mind-set and desire to create long-term partnerships, BearingPoint’s consultants are committed to delivering excellence and value to their clients. The firm’s approach to working with clients is highly collaborative and designed to improve business performance, from strategy through to execution. BearingPoint currently employs 3,500 people in 16 countries.
For more information, please visit: www.bearingpoint.com