Stacking Classifier-based Automated Insurance Fraud Detection System
M. Shanthini · 2022
During the Covid-19 pandemic, the insurance industry's digital shift quickened, resulting in a surge in insurance fraud. To combat insurance fraud, a system that securely manages and monitors insurance processes must be built by combining a machine learning classification framework with a web application. Examining and identifying fraudulent features is a frequent method of detecting fraud, but it takes a long time and can result in false results. One of these issues is addressed by the proposed solution. By digitalizing the paper-based workflow in insurance firms, this paper intends to improve the efficiency of the existing approach. This method also aimed to improve the present approach's data management by integrating a web application with a machine learning stacking classifier framework experimented on a linear regression-based iterative imputed data for detecting fraud claims and making the entire claim processing and documentation process more robust and agile.