SoftSol’s CEO, Srini Madala presented on “Using Analytics, Cloud, and AI to address fraud in Worker’s Compensation Insurance and Healthcare industry” at the Global Big Data Conference. It is the leading vendor agnostic conference for the Big Data (Hadoop, Apache Spark, IoT, Security, NoSQL, Data Science, Machine Learning, Deep Learning, Artificial Intelligence & Predictive Analytics) community.

Insurance fraud is one of America’s largest crimes — at least $80billion is stolen each year.In 2011, $2.27 trillion was spent on health care and more than four billion health insurance claims were processed in the United States. It is an undisputed reality that some of these health insurance claims are fraudulent. Although they constitute only a small fraction, those fraudulent claims carry a very high price tag. With rising insurance and healthcare costs, the fraud in workers compensation insurance, and health care is also getting out of control.

Use of modern technology previously unavailable makes it possible to identify suspicious behavior, quantify and address even complex cases of fraud possible with considerable ease and affordable costs.
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