Motor insurance scams meet their match as MSIG Singapore and Fermion Merimen weed out fraudulent claims with the all-seeing gaze of artificial intelligence (AI).
General insurer MSIG Singapore, together with Fermion Merimen, has implemented TrueSight Fraud Intelligence, an advanced AI tool developed to combat motor insurance fraud. The tool leverages AI to analyse data gathered in Singapore and processed by insurers using Fermion’s eClaims system.
This addresses the issue of insufficient structured data to train the AI model effectively, which is the root cause of inaccurate fraud detection in existing solutions in the region.
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