Unfortunately, the larger the scale of the industry, the more likely it is to become the main target of criminal activity. The Coalition Against Insurance Fraud (CAIF) estimates that fraud costs in the insurance sector are as high as $ 80 billion a year. A typical institution loses 5% of its revenue each year due to fraud, an increase of 7% in financial industry institutions.
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5% of revenue lost to Fraud each year
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$3.6 Billion deficit due to financial fraud
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58% of organizations had not recovered any of their losses due to fraud
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problems with massive amounts of unstructured data
RAALS suites of steps to perfection
Real-time / batch event suite
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Flexible Risk Scoring
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Fraud Prediction
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Fraud Detection in RT
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24/7 Monitoring
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Machine Learning
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Behavioral Analytics
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Case Management
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Automatic case creation
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Manual case creation
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WBL line
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Approval processes
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Delegating cases
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Attaching files
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Internal communicator
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Status of cases
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case or entity monitoring (white/black lists, data time frame visualization)
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Investigator Suite
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Visualization and Interpretation tools
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Investigate social networks
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Geographic data presentation
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Time frame based visualization
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Search (advanced search, boolean search, MWR)
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Key Fraud/Risk Indicator Generator
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Key Fraud Vector Catalogue
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Interactive reports wizard
Generic reports:
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GEN00001 - Number and values of detected cases by case status
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GEN00002 - Number and value of detected cases by origin
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GEN00003 - How many detected cases were the initial triage performed on by origin
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05
03
02
04
01
Data consolidator
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Single View across unlimited data sources
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Links any internal and external data source
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Unstructured data can be incorporated in view
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OSINT (Social networks, Google, etc.)
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Data remains in its original location
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Audio-video analyses
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The open architecture and its advanced technology will give you the ability to use RAALS in many different ways and to address many issues that you are facing, either to fight fraud or to address uncollected revenue, compliance with regulations, and anti-money laundering. It can even be used as a tool for marketing purposes.
RAALS uses deep data analysis, machine learning, and artificial intelligence to form useful information. Meaning, from fraud cases, detected in the past, RAALS performs predictive analytics to determine relevant patterns and predict future fraudulent behavior.
Implementation of RAALS is going to result in a decreased rate of fraud and anomaly, and therefore decreased loss of revenue for a client company in an affordable and user-friendly way.
Gathers and unifies data from various sources into a single, cohesive investigation ready database for analysis.
Manages the connections and data exchange between the platform and other internal or external systems.
Executes predefined rules and logic to automatically detect anomalies, risks, or potential fraudulent activities.
Provides powerful search capabilities to quickly find specific data, cases, or information within the system.
Offers customizable visual displays of key metrics, performance indicators, and real-time data for monitoring.
Supports multiple languages, allowing users from different regions to operate the system in their native tongue.
Offers customizable visual displays of key metrics, performance indicators, and real-time data for monitoring.
Manages the modification, and deployment of Key Fraud Indicators used for detection.
Applies a scoring system to cases based on the KFI's triggered, helping to prioritize investigations.
Likely an advanced or a specific set of indicators to start detection for the specific business.
Generates and sends notifications to users when specific events, rules, or thresholds are triggered.
Provides tools to manage all case with document management notes dates related to a specific case.
Offers a calendar view for scheduling and tracking important dates, deadlines, and events related to cases.
Organizes and provides access to all files and digital assets associated with a case.
Keeps a detailed record of all actions, changes, and events that occur within a case file.
Provides a collection of standard, pre-configured reports for common business needs.
Allows users to export and analyze data using Microsoft Excel's PivotTable functionality for ad-hoc reporting.
Visualizes relationships and connections between entities to uncover hidden networks.
Provides tools for system configuration, user management, and general maintenance of the platform.
Automates the assignment of cases to investigators or teams based on predefined rules and criteria.
Single point of access to all available information
Analytics in real-time by indexing relevant data
Fraudulent actions are detected sooner, anomalies are recognized earlier
Our vision is to keep finding technological market solutions and promote a fraud-free society.
It takes time and effort to recover the money stolen by fraudsters and many organizations are never able to do so.
The presence of anti-fraud controls is associated with reduced fraud losses and a shorter fraud duration. Fraud schemes that occurred at victim organizations that had implemented any anti-fraud controls were significantly less costly and were detected much quicker than frauds at organizations lacking these controls.
As a leading provider of Fraud, Risk, and Operational Performance Solutions to a number of vertical markets, we can help you with investigative and real-time process support capabilities built upon big data principles and a unified data view of the customer’s information.
Fraud case studies
Syndicate fraud
9 doctors and 7 staff members were working together to process fraudulent claims to the value of 2,000,000.00 €.
CASE STUDY
Car Insurance fraud
We were delivered 940 thousand car insurance claims for analysis. After only 3 days of analysis we saved at least 24,6 million EUR savings!
CASE STUDY
Rehabilitation fraud
A rehabilitation (sub-acute) facility providing services to patients that did not need treatment. Fraud value Euro 2,650,000.00.
CASE STUDY
Trusted by
millions of users worldwide
6
Countries
50+
Employees
50+
Sites & Clients
65%
of income reinvested
in R&D
100%
project success rate
Robert Jančigaj
CEO
Jerca Bizjak
COO
Sašo Slavičič
CIO
Dejan Vidovič
VP Sales
Matej Voršič
Legal Department
Ula Jaklič
BSU Manager
Maša Gluhar
BS Manager
Tjaša Brajdih
M Manager
Salviol Dev. Group
Salviol Data Scientist Group
Salviol Dev-op Group
RAALS
RAALS is a successor of an already market-established solution named FROPS. RAALS enables entrepreneurs to use its data to better understand the business environment and all operational processes to investigate and prevent previously undetected correlations. It also automates the process of retaining records from various sources for the full time of their retention periods following regulators and GDPR as defined. RAALS uses deep data analysis, machine learning, and artificial intelligence to form useful information. Meaning, from fraud cases, detected in the past, RAALS performs predictive analytics to determine relevant patterns and predict future fraudulent behavior.
WHISTLEBLOWER
Help to protect your company or organization by detecting issues before they turn into economic damage. Our safe, easy to use and complete whistleblowing system preserves your anonymity and allows you to communicate with the reporter most securely and confidentially.
With Whistleblower, you have the opportunity to inform your company about violations of labor, data protection, money laundering, tax or public procurement law, or of a company code of conduct. By using a digital whistleblowing platform you can prevent impending violations, enable a better work environment and direct your business to its full potential.
FROPS
Foundations behind the RAALS, FROPS, is a Fraud, Risk and Operational Performance Solution which has been excellently accepted by our enterprise-investigative environment customers worldwide. This software is an analytical tool for detecting, preventing and investigating internal or external fraud, or other forms of anomaly, in any organization. All information is processed in real-time which allows users an action overview with in-depth analysis of the data and can identify trends and their implications for businesses.
Our vision is to keep finding technological market solutions and promote a fraud-free society.
Our offer includes whistleblower platform and fraud or anomaly prevention and investigation modules that give clients the ability to search through vast amounts of data and identify previously undetectable patterns. We are successfully applying machine learning and artificial intelligence to various industries – from insurance, banking, telecommunications, health care, retail, and utility, to government, anti-money laundering, procurement, and performance NIRQ.
IBM‘s partner
for the last 12 years.
We cooperate with IBM as embedded solution partner for i2 security software.
ISO standards
We acquired certificate ISO 27001:2013 - the international standard that describes best practice for an ISMS (information security management system)
PCI DSS certification
We also hold the PCI DSS certification, which is a global standard established by financial organizations to protect cardholder data and information relating to the protection of personal data.
GDPR and ZVOP regulation
As numerous installations reside in EU for many years, FROPS is and was under compliance review from local (EU) state entities each year. FROPS strictly comply with all requirements from regulative and it is highly adaptable to add any additional specific security and regulative processes if required.
