SUCCESS CASE 1

Focused on motor claims, Nº1 in their region, this company has been working with their own IT
department and SIU for several years before FK, trying to establish rules and another alert
mechanism to detect Fraud. Before Implementing, we run a successful POC, archiving excellent
outcomes. Thanks, FK. They are now focusing on new LoB, using other modules like FK Churn
Prediction, and planning to use FK Work Compensation the following year.

Company Profile
Type Largest Carrier in the Region
Size > 750.000 claims/year
Region Latin America
Line of Business Motor & Commercial Property Insurance

Fraudkeeper Solution

Module FK Claim
Implementation 8 weeks
Technology API Real-Time

Tailormade Algorithms 16 weeks

Algorithms Type 6 Fraud Detection + 1 Savings Probability +
1 Linguistic Fraud Detection

Business Rules +150

External Sources Bureau Credit Check

Local Open Sources (Bad debt)
Weather conditions during the claim
Social Media Check
Claims from other companies (Insurance Regulatory Authority)

Business Case

Client Since Latest 2020 – 22 months

Type of Subscription Monthly Fee / Annual Contract
Total Saved Amount (YTD) USD 1.300.000
Monthly avg. savings USD 48.350
Monthly Cost / Avg. Savings < %20
Efficiency Fast Track +75%
Fraud Detection Ratio +30%
SUCCESS CASE 2

They are focused on motor claims and Home Insurance. Top 5 worldwide company local brand,
resign contracts with non-useful and expensive fraud detection software. However, because of
their brand-new SIU department and nonexperience people, their directors decided to implement
FK, and now there are in the middle of the stabilization archiving outstanding outcomes.

Company Profile
Type Top 5 Worldwide – Local Branch
Size < 250.000 claims/year
Region Latin America - Argentina
Line of Business Motor & Commercial Property Insurance

Fraudkeeper Solution

Module FK Claim
Implementation 8 weeks
Technology Batch 1st Stage / API Real-Time 2nd Stage

Tailormade Algorithms 24 weeks

Algorithms Type 3 Fraud Detection + 1 Rejection Probability +
1 Savings Probability + 1 Linguistic Fraud Detection

Business Rules +75

External Sources Bureau Credit Check

Local Open Sources (Bad debt)
Weather conditions during the claim
Social Media Check
Claims from other companies (Insurance Regulatory Authority)
District Car Fine Check

Business Case

Client Since Mid 2022 – 3 months

Type of Subscription Monthly Fee / Annual Contract
Total Saved Amount (YTD) USD 120.000
Monthly avg. savings USD 40.000
Monthly Cost / Avg. Savings < %15
Efficiency Fast Track +90%
Fraud Detection Ratio +50%
SUCCESS CASE 3

A brand-new company from one of the largest banks in the region focused on the P&C line of
business (except motor claims) and designed to be 100% digital, without producers or brokers
in between, for subscriptions and claims processes, they decided to implement FK, after a PoC
and establish a whole new strategy from the beginning using our Claim and Underwriting
modules.

Company Profile
Type Bank Insurance Company
Size < 250.000 claims/year | < 250.000 subscriptions/year
Region Latin America
Line of Business Home | Accidents and Health | Warranty | Life | Others

Fraudkeeper Solution

Module FK Claim + FK Underwriting

Implementation 10 weeks
Technology Batch 1st Stage / API Real-Time 2nd Stage

Tailormade Algorithms 14 weeks

Algorithms Type Image/documents recognition for claims checking from the
metadata to the type of document, their veracity, OCR
automation and data control.

Business Rules +250

External Sources Bureau Credit Check

Weather conditions during the claim
Social Media Check
Custom API from Adjusters

Business Case

Client Since Early 2021 – 20 months

Type of Subscription Monthly Fee / Annual Contract
Total Saved Amount (YTD) USD 285.000
Monthly avg. savings USD 15.000
Monthly Cost / Avg. Savings < %35
Efficiency Fast Track +100%
Fraud Detection Ratio +100%
SUCCESS CASE 4

One of the oldest and biggest carriers in their country, with multiple core systems and different
technology focused on Health insurance, decided to implement FK and invest in fraud detection
and claim triage.

Company Profile
Type Nº 1 in their region
Size > 750.000 claims/year
Region Central Americas
Line of Business Health

Fraudkeeper Solution

Module FK Claim + FK Underwriting

Implementation 10 weeks
Technology API Real-Time

Tailormade Algorithms 12 weeks

Algorithms Type 3 Fraud Detection + 1 Medical Auditor Rejector +
1 Savings Probability

Business Rules +100

External Sources Bureau Credit Check

Weather conditions during the claim
Claims from other companies (Insurance Regulatory Authority)
Earthquakes control
ICE-10 Anomalies

Business Case

Client Since Mid 2022 – 2 months

Type of Subscription Monthly Fee / Annual Contract
Total Saved Amount (YTD) USD 46.000
Monthly avg. savings USD 23.000
Monthly Cost / Avg. Savings < % 50
Fraud Detection Ratio +15%