Conference Papers

Permanent URI for this collectionhttps://idr.nitk.ac.in/handle/123456789/28506

Browse

Subject: search.filters.subject.Fraud detection

Search Results

Now showing 1 - 2 of 2
  • No Thumbnail Available
    Item
    Automated Health Insurance Management Framework with Intelligent Fraud Detection, Premium Prediction, and Risk Prediction
    (Springer Science and Business Media Deutschland GmbH, 2024) Devaguptam, D.; Gorti, S.S.; Leela Akshaya, T.; Sowmya Kamath, S.
    Private insurance is already one of the sectors with the greatest growth potential. For the majority of high-value assets today, including houses, jewelry, cars, and other valuable items, there are insurance solutions available. To maximize profits while handling client claims, insurance firms are leading have adopted cutting-edge operations, procedures, and mathematical models for estimating risks and serving customer best interests, while also maximizing profits. In this work, we aim to develop a machine learning-based automated framework that minimizes human involvement, protects insurance operations, identifies high-risk consumers, uncovers false claims, and lowers financial loss for the insurance industry. This framework consists of fraud detection followed by risk prediction and premium prediction. We trained and tested different machine learning approaches for each of the three insurance processing tasks; the observations are presented in this article. © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2024.
  • No Thumbnail Available
    Item
    Historical Analysis of Financial Fraud and Its Future
    (Springer Science and Business Media Deutschland GmbH, 2024) Girish, K.K.; Bhowmik, B.
    As the world is sailing toward a highly advanced digital financial culture with the advent of financial technologies (FinTech), more and more people are now under the shore of financial inclusion. Subsequently, new opportunities are created in the financial sector, making it possible for people who were previously unbanked or underbanked to access financial services. However, the rise in financial fraud and its potential implications are creating a rift in the financial sector, resulting in substantial economic losses across the globe. This paper provides an in-depth comprehension of financial fraud, encompassing its historical perspectives and ramifications. After that, factors contributing to fraudulent behavior are highlighted. In addition, the paper presents a comprehensive framework for fraud classification and accentuates the impacts of financial fraud. Furthermore, the paper underscores the aspects influencing future occurrences of financial fraud, enabling the formulation of proactive strategies to prevent and mitigate it. © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2024.