SAS Wins Innovation Award for Insurance Fraud Prevention Technology

CARY, N.C.--(BUSINESS WIRE)--Business analytics leader SAS was recognized by leading insurance strategic advisory firm Strategy Meets Action (SMA) with its SMA Innovation in Action award for SAS^® Fraud Framework for Insurance. This honor spotlights how new technologies can help modernize, optimize and innovate insurance practices.

“This recognition validates SAS innovation in addressing this issue. SAS customers using such advanced technologies have higher detection rates and more accurate scoring of claims for suspicious activity. And they benefit greatly from flagging – and stopping – fraud rings sooner.”

“SAS, the winner in the IT solution provider category for SAS Fraud Framework for Insurance, provides a cutting-edge solution by combining key next-generation technologies to help insurers detect and prevent both opportunistic and organized claims fraud,” said Karen Furtado, SMA Partner, during the award presentation.

Known for helping to prevent, detect and manage claims fraud across lines of business, SAS Fraud Framework for Insurance increases investigation efficiency and accuracy of special investigations units for leading insurers such as Allstate and CNA.

“Fraud is a growing challenge for insurance companies, especially organized fraud,” said Stuart Rose, Global Insurance Marketing Manager at SAS. “This recognition validates SAS innovation in addressing this issue. SAS customers using such advanced technologies have higher detection rates and more accurate scoring of claims for suspicious activity. And they benefit greatly from flagging – and stopping – fraud rings sooner.”

The award was presented at the annual SMA Summit at the Mandarin Oriental Boston on Sept. 24.

Learn more about a hybrid approach to insurance fraud detection.

About SMA Innovation in Action

SMA launched this award program to inspire, share, and recognize solutions that enable an insurance company to move beyond modernizing and optimizing to real innovation and transformation, ultimately creating differentiation and competitive advantage. The program spotlights both insurers and solution providers that have successfully implemented solutions that best leverage one or more of these five next-generation (next-gen) technologies: mobile, collaboration, analytics and big data, social media, and cloud.

About SAS

SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 60,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world THE POWER TO KNOW^®. SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2012 SAS Institute Inc. All rights reserved.