Clearspeed, a leading provider of AI-powered risk assessment technology, has announced a new partnership with RSA Insurance aimed at improving fraud detection and enhancing the overall claims process. The collaboration will utilise Clearspeed’s voice analytics solution, enabling RSA to streamline operations and provide a better customer experience in an increasingly complex fraud landscape.
The rise of opportunistic fraud, exacerbated by advancements in artificial intelligence, has posed significant challenges for insurance providers. Concurrently, consumer expectations for faster and simpler claims settlements are also on the rise. In response, RSA is making strategic investments in automation and advanced technologies to accelerate workflows and improve efficiency.
By integrating Clearspeed’s technology, RSA will be better equipped to swiftly and accurately identify potential fraud during the claims process. This enhancement builds upon the company’s existing fraud mitigation strategies, allowing for a more comprehensive approach to fraud prevention.
“Clearspeed’s partnership with RSA exemplifies our ability to provide actionable risk insights that support global growth and strategic agility,” stated Manjit Rana, Executive Vice President for the UK, EMEA, and APAC at Clearspeed. “By combining cutting-edge technical innovation with human intelligence, we are working to mitigate fraud from the outset. This partnership enhances the experience for brokers, insureds, and insurers throughout the entire claims process.”
Since the partnership’s initiation, RSA has made significant strides in its fraud detection capabilities. The technology has proven effective in identifying instances of opportunistic fraud, which has become a growing concern across the insurance industry. The collaboration has also had a deterrent effect, as evidenced by an increase in the number of claimants who abandon fraudulent submissions.
“This partnership with Clearspeed significantly enhances our fraud detection capabilities and improves our chances of detecting fraudsters even earlier in the claims process,” said Adele Sumner, Head of Counter Fraud Strategy and Financial Crime at RSA Insurance. “Clearspeed’s unique technology allows us to settle genuine claims more quickly, delivering a seamless experience for our customers. Importantly, it also equips brokers with the insights and tools they need to combat fraud effectively.”
Additionally, Clearspeed’s technology facilitates RSA’s ability to confidently refer specific claims to its partner, Allied Universal Compliance and Investigations. This collaboration allows RSA to leverage expert investigative resources while combining advanced technology with human expertise. As a result, RSA can fast-track low-risk claims, further improving efficiency in the claims process for customers.
Clearspeed continues to strengthen its position in the market by forming strategic alliances with some of the world’s largest organisations. This growth strategy has paid off, as the company has seen an 800% increase in client usage over the past year, reflecting the rising demand for advanced risk assessment solutions.
With this partnership, Clearspeed and RSA aim to set new standards in fraud detection and claims processing, ultimately benefiting both the insurance industry and its customers.
