Case Study

An Indian life insurer with large volume and high fraud

An Indian insurance company was facing potential systemic fraud across a high volume of applications.

They had data accuracy issues, incentive misalignment, paper-based, self-completed applications and physical photographs required for KYC.

Due to these issues, they were 25% over their claims experience expectations.


Lapetus proposed their AI backed Facial Analysis tool to quickly review new business applications for customer misstatement or potential fraud on customer application form.
Sample trial run proved a 10% error rate, with a potential cost savings in the millions on photo collection, medical assessment, and reduction in claims rate.

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