INFORM and NICB Partner to Deliver an Automated Search Solution for Fraud Detection

DES PLAINES, Ill. and CHICAGO, June 11, 2018 (GLOBE NEWSWIRE) — INFORM, a global provider of fraud management and claims process optimization technology and the National Insurance Crime Bureau (NICB), the nation’s premier not-for-profit organization dedicated exclusively to fighting insurance fraud and crime, today announced a new technology partnership. The partnership will combine NICB’s data assets with INFORM’s RiskShield decision engine technology.

The partnership leverages NICB’s extensive databases, including data in ForeWARNSM Alerts, Questionable Claims, and MedAWARE® alerts arising out of the Aggregated Medical Database and integrates the data into RiskShield’s decision engine for mutual members of NICB and customers of INFORM. This integration adds new functions, such as workflow capabilities and risk scoring based on machine-learning technology. This will allow significant added value to fraud detection and prevention for INFORM clients as partners of INFORM can explore an infinite number of possibilities to leverage this NICB data in an automated manner.

“With this new partnership, we can better support fraud and claim units to streamline their workflow, providing access to NICB’s data and deliver these results in an automated manner, saving significant time and effort,” said Dr. Andreas Meyer, Executive Vice President at INFORM. “This will not only increase the efficiency of claims and fraud units, but it will also significantly improve fraud detection by tapping into NICB’s broad database”.

About the National Insurance Crime Bureau

Headquartered in Des Plaines, Ill., the NICB is the nation's leading not-for-profit organization exclusively dedicated to preventing, detecting and defeating insurance fraud and vehicle theft through data analytics, investigations, training, legislative advocacy and public awareness. The NICB is supported by more than 1,100 property and casualty insurance companies and self-insured organizations. NICB member companies wrote over $461 billion in insurance premiums in 2017, or more than 81 percent of the nation's property/casualty insurance. That includes more than 95 percent ($218 billion) of the nation's personal auto insurance. To learn more visit www.nicb.org.

About INFORM GmbH

INFORM GmbH is a global company in advanced optimization software systems and a leader in providing intelligent, customer-centric fraud prevention and AML compliance solutions. With RiskShield we offer a multi-channel platform that detects and manages suspicious activities, minimizing losses and optimizing efficiencies using advanced analytics, machine learning and intuitive rule management controls. RiskShield provides a robust solution with proven fraud detection results that are reliable, fast and responsive. More than 1,000 companies worldwide benefit from using advanced optimization software systems by INFORM in industries such as financial services, insurance, health care, transport logistics, airport resource management and production planning. INFORM employs over 600 staff from more than 40 countries.

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Contact National Insurance Crime Bureau

Frank Scafidi - NICB
Phone: 916.207.0154
Mail: fscafidi@nicb.org 

Contact INFORM

Michael Skiba
North America
Phone: 518 527 2222
Mail: michael.skiba@inform-software.com 

Sabine Walter
Corporate Communications
Phone: +49 2408 9456 1233
Mail: Sabine.Walter@inform-software.com