Screen Applications for Potential Misrepresentation

Fraud can occur at the application stage through material misrepresentation of risk factors to obtain lower premiums or coverage inappropriately. LLMs can analyze application data, compare it against external data sources (e.g., public records, previous insurance history), and identify inconsistencies or red flags indicative of potential application fraud. For instance, flagging an auto application where the stated garaging address doesn't match public records for the applicant.