Recognition

IDC Analyst logo

 

    Follow us

    Sign Up for Updates

     

      WARRANTY

      Fraud Detection

      Warranty Fraud Detection – advanced and predictive analytics of the IBM SPSS platform finds claims with a high probability of fraud

      Warranty costs related to warranty claims fraud

      Most companies suspect warranty fraud but are not sure of the extent and ways to eliminate it. The existing tools and methods to detect warranty fraud are complex and expensive, causing manufacturers to bear the high costs unwillingly.

      The volume of claims makes it very difficult for knowledgeable warranty processors to review and analyze individual claims thoroughly. During the claims process, the use of business rules can identify some errors in claims entry but are ineffective in mining the warranty data to detect anomalies and patterns that indicate fraud. Manufacturers need a powerful, easy-to-use, and cost-effective warranty fraud detection solution.

      Mize Warranty Fraud Detection leverages advanced and predictive analytic capabilities of the IBM SPSS platform to find claims with a high probability of fraud or payment adjustment.

       

      warranty-fraud-detection-using_ibm_spss


      Mize Solution Enables Manufacturers To:

      • Develop models to find anomalies and patterns based on historical claims data
      • Isolate the factors that indicate a claim has a high probability of fraudulence
      • Discover suspect claims that have the greatest adjustment potential for further review by processors
      • Integrate with claims processing, business rules, and reports; minimizing changes to existing systems

      Mize applies the statistical and data mining capabilities of IBM SPSS to the warranty domain to deliver a simple, flexible, and proven solution.

      The Mize team has in-depth knowledge in warranty data, systems, and processes to quickly deliver warranty fraud detection and analytic solution.

      The Mize solution is available in the SaaS model as a monthly subscription, reducing the up-front investment in expensive software licenses and infrastructure.

      Benefits to Companies

      • Reduce warranty costs by detecting and preventing claims fraud and overpayment
      • Identify claims with a high probability of fraud or payment adjustment, improving the effectiveness of claims processors
      • Predict warranty costs more accurately
      • Improve the integrity of warranty data for quality analysis

      Eliminate Unnecessary Warranty Costs

      Understand how manufacturers can start saving warranty costs by implementing the mize Warranty Fraud Detection Solution.

      Mize Warranty Smart Blox

       

      WARRANTY

      Request for a live demo to learn how to extend your Warranty Fraud Detection to provide an easy-to-use and cost-effective warranty portal.

       

      REQUEST A DEMO

      FEATURED RESOURCES

      H4: CAPABILITIES

      2 min read

      In the Rearview Mirror: A Leading Automobile Warranty and Service Conference Recap

       
      A recap of MAPconnected, A Vehicle Service & Warranty Lifecycle Conference

      I had the privilege of moderating the...

      2 min read

      Quality Redefined: How End-to-End Service Delivery is Transforming the Customer Experience

      Recent events such as the coronavirus pandemic have made one thing abundantly clear: Disruption will continue to play a...

      2 min read

      Syncron and Mize Join Forces to Bring Service Lifecycle Management Capabilities to Market

      Guest blog by Michael Blumberg, Blumberg Advisory Group

      Syncron, a leading provider of Service Parts Planning, Pricing,...