Fraud and Security solution is acknowledged for its unique features and integration of advanced AI technologies<\/h4>\n

LONDON, Sept. 04, 2024 (GLOBE NEWSWIRE) —\u00a0Quantexa<\/a>, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, today announced that its Fraud Detection solution has been awarded \u201cLuminary\u201d status in\u00a0Celent\u2019s 2024 Insurance Fraud Detection Solutions: Property & Casualty Insurance Report<\/a>. The report highlights Quantexa\u2019s position as a leading provider of advanced fraud detection and investigation solutions. It showcases the impact the solution has on investigative and anti-fraud teams in the insurance industry make when protecting losses and enhancing customer experiences.<\/p>\n

Insurance fraud is on the rise; organizations in the UK recorded that false claim applications\u00a0increased by 20%<\/a>\u00a0in the insurance sector in 2023. In the U.S it is estimated that\u00a0$308.6 billion annually<\/a>\u00a0is lost to insurance fraud. Quantexa\u2019s Fraud and Security solution uses AI and ML in its dynamic entity resolution and knowledge graph capabilities to ingest, match, connect, and visualize billions of data records on-demand. These records come from both internal and external sources, providing an advanced, real-time holistic view of fraud risk. Clients can use a range of scoring and anomaly detection features to develop their own detection models self-sufficiently to match their risk appetite, capacity, and book of business.<\/p>\n

Quantexa\u2019s solution was recognized by Celent for its differentiation, as it incorporates innovative AI technologies, such as machine learning, deep learning and natural language processing, for predictive modelling and for data quality assessment and context generation. Quantexa\u2019s solution is also highlighted for its ability to be deployed on all major public cloud platforms globally.<\/p>\n

The report analyzes 10 fraud detection solution providers based on their technology and functionality. Quantexa\u2019s \u201cLuminary\u201d status puts them in the leadership position in the report. Celent analysts write that \u201cQuantexa stands out as a leading fraud detection platform from both a technology and functionality perspective. Its significant investments, marquee clients, and strong market positioning suggest it will remain a top player in insurance fraud detection.\u201d<\/p>\n

Alex Johnson, Global Insurance Industry Lead at Quantexa, said:<\/strong>\u00a0\u201cBeing recognized by Celent as a Luminary in anti-fraud technology validates our ongoing investment into R&D, our future vision, and the value we deliver to our clients across the globe. Leveraging cutting edge entity resolution, knowledge graph, and AI technologies in our offering gives clients the ability to stay one step ahead of bad actors.\u201d<\/em><\/p>\n

Nathan Golia, Senior Analyst at Celent, added:<\/strong>\u00a0\u201cWe have a thorough process of assessing the solutions that we consider for our Fraud Detection Solutions Report. To achieve Luminary status, Quantexa excelled in both the technical and functional dimensions that we measure. The world is increasingly vulnerable to fraudsters solutions like these are essential to protect insurers, and insurers\u2019 customers.\u201d<\/em><\/p>\n

To learn more about Quantexa’s \u201cLuminary\u201d fraud detection capabilities, and download the Celent report, visit\u00a0https:\/\/www.quantexa.com\/resources\/insurance-fraud-report\/<\/a>.<\/p>\n

About Quantexa<\/strong><\/p>\n

Quantexa is a global AI, data and analytics software company pioneering Decision Intelligence to empower organizations to make trusted operational decisions with data in context. Using the latest advancements in AI, Quantexa\u2019s Decision Intelligence platform helps organizations uncover hidden risk and new opportunities by unifying siloed data and turning it into the most trusted, reusable resource. It solves major challenges across data management, customer intelligence, KYC, financial crime, risk, fraud, and security, throughout the customer lifecycle.<\/p>\n

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. An independently commissioned Forrester TEI study on Quantexa’s Decision Intelligence Platform found that customers saw a three-year 228% ROI. Founded in 2016, Quantexa now has more than 750 employees and thousands of platform users working with billions of transactions and data points across the world.<\/p>\n

Media Enquiries<\/strong>
\nC:\u00a0<\/strong>Stephanie Crisp, Fight or Flight
\nE:<\/strong>\u00a0Quantexa@fightorflight.com<\/a><\/p>\n

OR<\/strong><\/p>\n

C:\u00a0<\/strong>Adam Jaffe, SVP of Corporate Marketing
\nT :\u00a0<\/strong>+1 609 502 6889
\nE :<\/strong>\u00a0adamjaffe@quantexa.com<\/a><\/p>\n

GlobeNewswire Distribution ID <\/span>1000989914<\/span><\/p>\n

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Fraud and Security solution is acknowledged for its unique features and integration of advanced AI technologies LONDON, Sept. 04, 2024 (GLOBE NEWSWIRE) \u2014\u00a0Quantexa, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, today announced that its Fraud Detection solution has been awarded \u201cLuminary\u201d status in\u00a0Celent\u2019s 2024 Insurance Fraud Detection Solutions: [\u2026]<\/p>\n<\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2371],"tags":[339,229,230,2268],"class_list":["post-266378","post","type-post","status-publish","format-standard","hentry","category-press-releases","tag-africa","tag-mena","tag-pakistan","tag-south-africa"],"yoast_head":"\n