Identifying and investigating fraudulent claims is extremely time consuming for many insurance companies. In 2017, there were approximately €13bn of detected and undetected fraudulent claims in Europe. These claims take valuable time away from insurers who need to treat genuine claims and serve customers quickly and efficiently. However, many insurance companies are stuck with disparate data sources, legacy systems and many employees working manually, making the ability to identify and weed out fraudulent claims extremely difficult.
Anadolu Sigorta was founded in 1925 under the leadership of Isbank, Turkey's first national bank. Today it is Turkey’s first national insurance company, employing over 1,200 staff and offering a wide range of non-life policies to customers throughout the country.
Anadolu Sigorta is on a mission to implement a customer-focused approach to service, deliver new products and create a more efficient way to spot fraudulent claims - using data. In short, they have put data at the core of their innovation strategy.
Here, Vedat Gunes, BI & Analytical Applications Manager at Anadolu Sigorta, shares how the company has transformed into a fully data-driven organisation, predicated on a powerful data culture where employees are developing business strategies and making decisions, based on data.