ILOG has announced that ILOG JRules, a key offering in ILOG’s Business Rules Management System product line, has helped South Korean insurer Samsung Life Insurance to identify fraud, through the creation of insurance fraud detection system.
Samsung Life Insurance introduced its new insurance fraud detection system in Korea to shorten the inspection time for processing 10,000 claims from two weeks to one day. The new system uses ILOG JRules, SAS Statistics Data Mining system, HandySoft BPM Suite, and TiMax WAS.
Utilizing the ILOG JRules, Samsung Life can draw upon the knowledge accumulated from past insurance fraud management work and translate that knowledge into business rules that can be managed and executed by the BRMS, reducing the instances of fraudulent claims.
ILOG’s BRMS will help Samsung Life Insurance, to scientifically and systematically search and analyze based on 800 different factors, including tracking the history of insurance fraud detections, the number of insurance accident cases and the number of insurance agreements. With the systematic and fast examination process, Samsung Life Insurance expects to be able to improve the utilization of its insurance fraud experts.
Dongchul Park, senior manager of claims inspection section at Samsung Life Insurance, said: The more I get to know about the more advanced functions of ILOG BRMS, the more I am impressed by this incredible technology.