Techficient Launches AI Fraud Detection Platform for Insurance

Techficient Unveils AI-Driven Fraud Detection Platform for Insurance Industry

Techficient, a pioneering InsurTech company known for its AI-based solutions, has launched Forthright, a cutting-edge platform aimed at tackling the significant issue of fraud in the insurance industry. This innovative tool promises to enhance operational efficiency and profitability by identifying fraudulent activities early, a crucial step in strengthening regulatory compliance requirements and risk management strategies.

Forthright's continuous monitoring capabilities empower insurers to proactively detect fraudulent activities, ensuring robust oversight across distribution channels. By minimizing fraud exposure, the platform supports carriers in maintaining regulatory compliance and reinforces the integrity of insurance operations. Techficient CEO Todd Ruplinger emphasized the platform’s role in preserving industry trust, improving profitability, and bolstering the core business framework for providers and distributors.

Part of Techficient's comprehensive technology suite, Forthright complements the company’s previously enhanced Dynamic platform, which revolutionizes life insurance quoting and submission processes. This AI-driven solution utilizes a pre-underwriting engine to recommend products from over 30 carriers and 100 life insurance types, aiming to streamline the insurance claims process, improve accuracy, and ensure seamless alignment between submitted and issued policies. As a result, it promises to reduce policy issuance time by approximately 20%, diminish reliance on medical exams, and optimize distribution efficiency for underwriters and payers.