How do you get more return on product by fighting fraud smarter? Keep things simple and innovate from your base. Leissner & Van der Molen sees many organisations struggle to put this into practice. That is a shame, because smart innovations are worth their weight in gold. Draft a roadmap and work towards better cost control in a step-by-step fashion.
Within the world of fighting fraud, many innovative techniques are trending. Just think about machine learning, big data, nudging or blockchain. We all think we have to do something with it. But where do you start? That is a tough nut to crack. Because how do you know which techniques suit your organisations needs? What costs are you willing to pay? And what will all of this innovative goodness yield?
…From your base
There is no clear answer. It depends on the way certain conditions are filled. Those are not just the hard conditions like budget, capacity, knowledge and data quality, but also soft conditions like fraud awareness, ownership and support from the whole organisation within. In a nutshell: it depends on your base.
Focus on this base when get to work with new techniques for fraud control. Many times it turns out the solutions with the best results are generally simple. That way every organisation can innovate smartyl in a step-by-step fashion. Be inspired by the folowing two examples:
- Funneling: is it hard for you to get clear insights in all fraud activity from within your products, services, underwriting- or claims processes? Then consider funneling. It is a data- and business intelligence technique which lays the groundwork for a effective anti fraud strategy, meaningful KPI’s and reports with impact.
- Nudging: are you short on investigative capacity? Then nudging could be a good solution. This is an application of influencing behaviour to stimulate customers to be honest when filling in applications or claiming damage. Prevention is better then the cure.
Draft a roadmap; do a Quick Scan
Do you want to know which innovations are a solid choice for your organisation? Then determine your opportunities and draft a roadmap that fits the current picture.
Leissner & Van der Molen has developed the Quick Scan to kick start this process:
- In several weeks we investigate in-house the key conditions for fighting fraud.
- Afterwards you receive a concise report which pin points and explains your best (and smarter) opportunities at a glance.
Why Leissner & Van der Molen?
The Quick Scan for fraud control is unique in the market: tailor made, affordable and a perfect framework to plan and execute smarter innovations. Leissner & Van der Molen also offers the possibility to support you in the planning, preparations and execution.
We rely on over 20 years of project and operational experience in the financial services industry. Our practical experience, background and specialist network make sure that we are familiar with many innovative techniques.
You are welcome
Please visit our website or contact us. We would love to help you to innovate from the base.
Roeland van der Molen is managing consultant at Leissner & Van der Molen. As a legal and data professional he has developed himself the last ten years into an allround number cruncher. He helpt clients to get more grip on their data, facts and figures and build an effective strategy from this. ”Innovation starts from your base”.