Insurance CIO Outlook announced that DeepFraud AI has been named as one of the Top 10 Artificial Intelligence Solution Providers of 2019 and has been profiled for the cover story of the September issue of the magazine, just ahead of the largest conference of the year, InsureTech Connect in Las Vegas, NV.
Founded by a senior Google AI engineer and Bridgewater Associates Algorithmic investor, DeepFraud has successfully deployed the same big data techniques to insurance claim fraud detection used within big tech’s hardest problems. DeepFraud has deployed their solution across lines within the P&C market and specialize in using unstructured claims data to find and fight fraud.
Tomas Vykruta, DeepFraud’s co-founder and CEO remarked, “it’s a special time for AI and the Insurance industry. While most AI companies are off searching for esoteric external data sources, we have an additional focus- which is the data contained in their claim files. We’ve found that unlocking claim files, testimonies and statements using natural language processing and other advanced techniques has yielded more insight than the competition, by a long shot. This isn’t a keyword search- DeepFraud can map the actual intent and consistency of players and statements over time. It’s magical.”
DeepFraud has partners spanning the P&C industry, as well as TPAs and investigation companies.
DeepFraud was founded in 2018 and is backed by leading Silicon Valley venture capital firms First Round Capital, Foundation Capital, FirstMark and Plug and Play.