Turning Data into Anti-Fraud Intelligence for Lead Generation

April 11, 2025 / 3 min read

In the property/casualty insurance industry, data has become the cornerstone of effective fraud detection and prevention. Insurers who harness the power of their data can not only identify potential fraud but also generate actionable intelligence that leads to new investigations. But transforming raw data into fraud-fighting intelligence requires more than simply collecting information—it demands strategic planning, careful analysis, and a balanced approach to privacy concerns.

Data collection for fraud detection

At the outset, it’s not enough to merely collect data at random. You must collect the right data elements to leverage them into meaningful insights that surface the behaviors you most need to see.

Proper information collection—your newly gathered level of sourced intelligence—is crucial to ultimately showing you the outliers, trends, and patterns within the data. As such, focused deliberation and design of what key data to harvest is critical to extracting functional analysis, while remaining mindful of privacy regulations and consumer expectations.

Whether examining insurance policies for auto, workers’ compensation, homeowners, businesses, professional liability, or others, it’s critical to use effective data analysis to aid, inform, and influence your anti-fraud efforts. The right analysis techniques can not only help identify areas with the greatest potential for fraud, waste, and abuse; they can also help create an effective avenue to elicit lead-generating intelligence that drives deliberate deployment of your anti-fraud efforts.

standing man presenting data

Two types of intelligence: strategic vs. tactical

Intelligence derived from data analysis is not all the same. The easiest way I help teach those new to analytical modeling is to break it down into two major components: strategic and tactical.

Strategic intelligence delivers high-level overviews. It substantiates, establishes, and influences, helping you:

Substantiate your need for an anti-fraud plan
Establish your overall financial risk exposures
Influence your prevention, mitigation, and abatement plans and policies

Tactical intelligence delivers pinpointed views. It reveals, informs, and reacts, helping you:

Reveal, via granularity, what specifically drives your highest risk exposures
Inform the deployment of staffing assets to combat those threats
React with a designed, direct, precise responses to specific threat types

Generating actionable leads while respecting privacy

When implemented correctly, this dual approach to intelligence allows insurers to identify both high-risk patterns and their specific causes, creating a steady stream of investigative leads. For example, analysis might reveal a network of suspicious claims sharing common elements that wouldn't be apparent without sophisticated data processing.

However, insurers must balance their fraud-fighting efforts with privacy considerations. As Verisk's research has shown, responsible data use is the cornerstone of effective anti-fraud initiatives. This includes:

Ensuring proper consent and transparency regarding data collection
Implementing strong data security measures
Following industry best practices for data governance
Complying with all applicable regulations

By taking this balanced approach, insurers can maintain consumer trust while effectively identifying potential fraud. This leads to more accurate risk pricing, reduced losses, and ultimately, more competitive premiums for honest policyholders.

From data to actionable intelligence

The real power of data analysis comes from its ability to transform information into action. By covering both strategic and tactical intelligence, you identify both your high risks and their specific causes. This approach helps you better understand the results and positions you advantageously in responding to them.

Continued monitoring of these patterns and their likely outcomes produces a steady stream of investigative leads for your team—precisely what effective anti-fraud programs need to stay ahead of increasingly sophisticated fraud schemes.

Explore Verisk’s anti-fraud data collection, effective analysis, or behavioral intelligence monitoring tools, or contact us to learn more.

Analyzing Collected Data for Lead-Generating Anti-Fraud Intelligence

Data collection for fraud detection

Two types of intelligence: strategic vs. tactical

Generating actionable leads while respecting privacy

From data to actionable intelligence