DetectX® for insurance
Stay compliant. Detect and reduce fraud. Strengthen customer relationships. DetectX® is a scalable AI platform tailored to the unique challenges of the insurance sector, so that insurers can optimise policies, improve claims handling efficiency, reduce claim fraud risk and create value from customer insight.
Built for the insurer you are
A life insurer, a claims-heavy non-life book and a reinsurer face the same rules but very different cases. Pick the one that sounds like yours and start from there.
Life and pensions
Long contracts, many parties.
Policies run for decades. Premiums can arrive in one sum, a policy can be surrendered early, and the beneficiary may change long after the policy was written. Knowing who the money will reach is the hard part.
Non-life
Many policies, a small team.
Motor, property and liability portfolios hold many policies and few compliance staff. Claims are paid to policyholders, repairers and other third parties, often quickly.
Reinsurance and specialty
Cedents, cargo and vessels.
Reinsurers and specialty insurers deal with ceding companies and brokers in many countries, and insure risks that move: ships, aircraft and cargo, sometimes near sanctioned waters.
Brokers and intermediaries
Business through people you do not employ.
Much of the business arrives through brokers, agents and distribution partners. Their conduct becomes your risk, and their customers become yours.
Where insurers start
Suggested starting points. Every DetectX® solution is available to every insurer. Examples use synthetic data.
Transaction Monitoring
Monitor transactions for unusual patterns, with rules tuned to your institution.
SolutionTransaction MonitoringTransaction Filtering
Check the parties to each claims payment before it is released.
SolutionTransaction FilteringWorkflows
Keep every decision and its reason on one record.
SolutionWorkflowsName Screening
Screen cedents, brokers, counterparties and vessels against sanctions lists.
SolutionName ScreeningAdverse Media Search
Read the news about counterparties.
SolutionAdverse Media SearchThird Party Due Diligence
Assess brokers, agents and partners before and during the relationship.
SolutionThird Party Due Diligence
Customer stories in insurance
- 27 million name checks a year
Names screened every year across batch and real-time workflows.
- 5,000 claims a day
Daily claims screened, each involving multiple names, at a throughput of five requests per second at full load and a capacity plan of 2.7 million high-priority screenings a year.
Case studyGenerali Switzerland- 140 users
Helvetia users across five countries process alerts in one workflow, with the steps configured to Helvetia's own needs.
- A few days
The initial implementation at Helvetia Switzerland took only a few days of effort.
Case studyHelvetia
Every figure is Prospero's own, carried from the case study that publishes it. None is footnoted, audited or independently verified.
DetectX® for insurance FAQs
Transaction filtering is the check of each payment, before it posts, against sanctions lists, internal blacklists and a bank’s own payment rules, so that a payment to or from a listed party is stopped in time. DetectX® Transaction Filtering screens the counterparty in every incoming and outgoing payment, tests the payment against your business rules in the same check, and holds it for your analyst on a hit. Clean payments go straight through, and instant payments are filtered on the same engines.
Every action on an investigation is stored in its audit tab: who did what, and when. The investigation also holds the checklist, the inquiries and their answers, every document, and the opinions and decisions with their reports. How a decision was reached is on file alongside the decision itself.
Yes. Insurance fraud, sanctions exposure in assets and incident management are covered above, under One graph, many kinds of investigation.
Go Deeper
All resourcesTwo decades with Prospero, from name screening in 2007 to real-time transaction filtering in 2024, now handling more than 27 million name checks a year.
Read the case studyCase studyHelvetiaThe leading Swiss utility insurer integrated DetectX® Name Screening across onboarding, periodic re-checks and asset management, with 140 users in five countries on a single workflow.
Read the case studyInsightWhat is Adverse Media Search and why is it used in financial services organisations?Adverse Media Search is a process that involves searching publicly available sources of information to identify negative or adverse news about individuals or companies. This type of search is commonly used by financial services organisations, such as banks and insurance companies, as part of their risk management and compliance programmes.
Read the articleSee DetectX® for insurance in a demo
Whether you are developing better products, optimising claims handling, detecting money laundering and fraud, or strengthening customer relationships, DetectX® has the tools to help. Connect with us to see how it can transform your risk management and analytics capabilities.
- Generali Switzerland
- Enhanced compliance with DetectX® through advanced name screening and real-time transaction filtering.
- Helvetia
- A leading Swiss insurer, moved from on-premise to SaaS and now running on Prospero's SaaS services.
- One platform
- Pick the solution you need today, and add more without adding vendors.