Kooperativa adopts Resistant AI’s Document Forensics to tackle fraudulent insurance claims

Resistant AI, the AI- and machine learning-powered financial crime prevention specialists, today announces that its Document Forensics solution has been adopted by Kooperativa - Vienna Insurance Group, one of the largest insurers in the Czech Republic. The technology will be used for verification of documents submitted as part of Kooperativa’s insurance claims process.

Kooperativa is a universal insurance company that offers a full range of services and all standard types of insurance for citizens, small businesses, and large enterprises.

Previously, insurance claim checks have relied on the submission of documents which are verified manually, a lengthy and fallible process which leaves room for human error. The adoption of Resistant AI’s Document Forensics solution enables a smoother and more accurate document verification process which saves time and money, and can identify fraud undetectable by the human eye. 

This adoption comes as part of a wider digitization of Kooperativa’s processes that are aimed at improving security and reducing the number of fraudulent claims. In 2023, Kooperativa investigated over 1,000 suspicious insurance events, and substantiated 450 cases of fraud with the protected value exceeding 137 million CZK (roughly $6m USD). This represents a growth of over 30% in the protected value in comparison to 2022, which witnessed 500 frauds amounting to 107 million CZK (roughly $4.7m USD).

Martin Rehak, CEO and Founder of Resistant AI says, “We are pleased to work with Kooperativa as it rolls out a new digitized approach to its document verification processes. As the prevalence of document forgeries increases across the whole financial industry, insurance is particularly susceptible to sophisticated fraud techniques. In an era where fraudulent activities often surpass human detection capabilities, the deployment of AI represents the most effective strategy for identifying and combating such deceptions."

Ondřej Poul, Director of Claim Division at Kooperativa says, “At Kooperativa, we are taking a progressive approach to the adoption of AI tools to improve the speed and accuracy of document verification, as well as pinpointing attempted fraud before it can take place. Resistant AI’s Document Forensics is the perfect solution to ensure a wide range of documents are legitimate and from reliable sources, accurately and at scale.”

About Kooperativa
Kooperativa is a universal insurance company that offers a full range of services and all standard types of insurance for citizens, small businesses, and large enterprises. Kooperativa has long been one of the largest Czech insurance companies, with annual written premiums exceeding 47 billion CZK, bringing it more than a 24% market share. The company manages over 4.7 million contracts for almost 2.5 million clients. It has three hundred own sales locations throughout the Czech Republic and also provides its services through the network of its strategic partner, Česká spořitelna.

Kooperativa is part of the Vienna Insurance Group, which represents the largest Central European insurance conglomerate with a tradition spanning 195 years. VIG is the highest-rated enterprise on the Vienna Stock Exchange, and its shares are also traded on the Prague Stock Exchange.

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