That's the question we asked when we started Huddle. You see, one of the reasons that insurance is becoming so expensive is that fraud costs Australians $2bn per year (Insurance Council of Australia), that's about $180 for every household in Australia.
Huddle processes thousands of claims for our honest, hard working customers. But every now and then someone tries to break into our honest community to try and steal from us. So we built technology to look after our honest customers and pay their claims fast, whilst keeping fraudsters out.
And that helps us keep prices low. Unfortunately other insurers pay these claims and then just pass the costs back to their customers.
We combine super computing power with the artificial intelligence to identify fraudulent claims. This clever technology uses the same techniques as some of the words leading spy agencies, combining machine learning and advanced analytics to identify suspicious behaviour and falsified claims.
Remember: insurance fraud is not a victimless crime. Fraud that isn't caught ends up being passed on by most insurers to customers in the form of higher premiums. To confidentially report insurance fraud in Australia, call the Insurance Fraud Bureau of Australia on 1800 600 444.
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