Matt Gilham, Director joined seasoned insurance fraud subject matter experts from major general insurers to talk about the current threats and trends in insurance and especially those arising from Artificial Intelligence. The threats arising from so called shallowfake documents and how to detect them were a key topic of conversation.
The panel discussed the move and counter move as insurance fraud continues to evolve and the options in tools to detect shallowfakes. Matt put down a challenge to the sector questioning if there was a missed opportunity to move from investment in detection, to a greater focus on prevention. In particular, to prevent the submission of fraudulently altered images by capturing these ‘in app’ with a digital chain of evidence. However, the point was discussed that this change in the point of intervention would require a different approach to customer journey and experience.
Whitelk also talked about the overall return on investment opportunity, with the use of investment in shallowfake detection technology also applicable in detecting and stopping other types of fraud, such as fabricated invoices in accounts payable.
