20 Feb 2013

Gartner recognition to the Apara analytic solution for fraud detection and management in Insurances

Kimberly Harris-Ferrante, Gartner VP Distinguished Analyst, in her last specialized report for the insurance field ("Insurers Adopting Fraud Analytics to Drive Loss Reduction and Competitive Advantage") has mentioned Apara as one of the very few highlighted companies in advanced analytics solutions for fraud detection and management in the insurance field.

The report states that, for the Insurers, to improve precision and quickness in the fraud detection in order to reduce their loss is a critical issue. According to this report, only  few organizations have already updated their traditional rules systems and have invested in more modern solutions. These organizations are reporting important benefits as the significant reduction of the losses associated to the fraud experimented and a direct increase of their profit margin.
However, despite these important benefits, the vast majority of the organizations acknowledge not to have included between their solutions neither the capabilities of predictive modeling nor the real time analytics. In fact, only a third of the consulted organizations have invested in the mentioned technologies in 2012.

Apara is the only Spanish company mentioned in this report thanks to its modern solution which is not backed on prefabricated models and to its offer in SaaS mode.

Some of the advantages Apara solutions offer are:

  • Cyclic learning: the new abnormal patterns detected improve automatically the predictive capability of the models, diminishing with almost no effort in the recalibration of the models the false positives.
  • More analysis power: clustered analytic engine.
  • Suspicious cases detection at the moment of activation.
  • Mobile devices support (tablets and smartphones).
  • In-memory support which gives better services using big information volumes.
  • Cases management module which makes investigation easier.
  • Higher number of models with less effort: exploration of new scenarios and detection strategies with a tenth of the effort used with traditional solutions.

Apara is a company born in 2002 with 100% Spanish capital as a spin-off of the Quality and Technology Group. More than fifteen years of experience in Predictive Analytics and Business Intelligence prove its success. Apara has developed dVelox, the first Spanish business platform regarding Predictive Analytics mentioned by Gartner in more than 15 reports. 

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