Huge opportunities for anti-fraud measures in China, says FICO
Chinese non-life insurer Huatai was hailed as a pioneer this week after it became the first insurer in the region to deploy insurance fraud protection. John Chen, managing director of FICO, which provided the anti-fraud solution, spoke to Insurance Insight about the local market’s efforts to combat fraud.
Addressing the question of why such solutions have not been previously adopted Chen said: "It is probably a natural evolution of sophistication.
"Prior to these initiatives insurance companies were at
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