[Asia Economy Reporter Changhwan Lee] DB Insurance announced on the 26th that it has launched the industry's first insurance fraud network analysis system, ‘DB T-System (DB Total Analysis System),’ which scientifically analyzes conspiracy relationships in insurance fraud using big data.
DB Insurance explained that it has been operating the IFDS (Insurance Fraud Detection System) since 2011, but initiated this project to actively respond to environmental changes such as advancements in big data analysis techniques and the large-scale organization and sophistication of insurance fraud.
While the existing IFDS mainly focused on analyzing individual suspects of insurance fraud, the newly developed system focuses on analyzing conspiracy relationships among suspects.
The main analysis targets include intentional accidents involving conspiracy between automobile insurance policyholders and third parties, and conspiracy relationships with insurance clients. The system automatically provides relationship diagrams and statistical data of suspects suspected of insurance fraud through machine learning analysis.
A DB Insurance official stated, "This system is an advancement over the existing insurance fraud analysis system, and efficient responses to the recently frequent conspiracy frauds are expected," adding, "We will continue to make efforts to eradicate insurance fraud and protect honest insurance policyholders."
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