Fraud detection: bank details and insurance claims
Document fraud is one of the industry’s most pressing challenges, costing billions each year and eroding customer trust. From altered bank details (RIB) to falsified claims, fraudulent documents drain resources, increase risk, and slow down operations.
With our AI-powered fraud detection module that combines automated checks and expert review to detect fraud earlier, reduce exposure, and deliver a faster, more reliable client experience.
A real challenge for insurers and their clients
Document fraud in insurance is widespread, costly, and impactful. It typically involves forged or manipulated documents (invoices, quotes, ID papers...) used to claim undue benefits. It can affect all stages: onboarding, claims, and payouts. According to the Coalition Against Insurance Fraud (2022), insurance fraud costs the U.S. $308.6 billion annually. This staggering figure highlights the scale of the problem and the urgent need for insurers to strengthen their defenses.
The consequences are serious:
- Financial losses,
- Higher operational workload,
- Resource drain,
- Legal disputes,
- And in some cases, a loss of trust from clients who see their insurer as vulnerable or inefficient.
A dedicated module for fraud detection
To help insurers stay in control, we’ve developed a dedicated module for document fraud detection, built in collaboration with expert partners.
The solution combines the power of AI with the expertise of human analysts for fast, rigorous, and reliable document checks.
It applies to a wide range of use cases:
- bank details (RIB),
- payslips,
- invoices,
- purchase
- receipts,
- tax notices,
- insurance statements,
- medical documents,
- sick leave certificates,
- .... and more.
Two key risk areas: bank details & claims
Bank account fraud (RIB fraud)
Fraudsters alter beneficiary bank details to reroute payments, exposing both clients and providers to heavy losses.
Our response is based on two complementary layers:
- Automated document checks to detect tampering or suspicious edits
- Cross-verification with external databases to confirm the IBAN is valid and belongs to the correct beneficiary
Claim-related fraud
Applies across Motor, Home, Rent Guarantee, Health, and Life insurance. Every alert is reviewed by experts to:
- Eliminate false positives and avoid delays
- Qualify relevant alerts with tailored comments
- Continuously improve detection with real feedback
The outcome: smarter, explainable fraud detection
By combining advanced AI with human oversight, insurers can:
- Detect fraud faster
- Reduce exposure and operational costs
- Deliver transparent, explainable decisions
- Protect client trust and improve the claims experience
Discover how Harmoney combines AI and human expertise to fight fraud without friction. A book a demo today.