Cost-Sensitive Design of Claim Fraud Screens

@inproceedings{Viaene2004CostSensitiveDO,
  title={Cost-Sensitive Design of Claim Fraud Screens},
  author={Stijn Viaene and Dirk Van Gheel and Mercedes Ayuso and Montserrat Guillen},
  booktitle={Industrial Conference on Data Mining},
  year={2004}
}
In this paper we perform an exploratory study on the design of claim fraud detection for a typical property and casualty (P&C) insurance company using cost-sensitive classification. We contrast several cost incorporation scenarios based on different assumptions concerning the available cost information at claim screening time. Our empirical trials are based on a data set of real-life Spanish closed automobile insurance claims that were previously investigated for suspicion of fraud by domain… CONTINUE READING

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