Czech insurance company Kooperativa has selected Resistant AI’s Document Forensics technology to improve insurance claims verification and combat fraud. 

Resistant AI said the adoption of its AI-powered solution marks a shift from the traditional manual verification of documents, which is often time-consuming and prone to human error.  

Its technology promises a more efficient process, potentially saving both time and money while detecting fraud that may go unnoticed by human inspectors. 

Kooperativa, part of Vienna Insurance Group (VIG), is said to hold more than a 24% market share with annual premiums surpassing Kč47bn ($2.02bn). 

The company provides all common forms of insurance as well as a comprehensive range of services to individuals, small businesses and major corporations. 

Kooperativa’s decision to adopt advanced AI technology is part of the insurer’s broader strategy to digitalise operations and enhance security measures.  

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By GlobalData

This proactive approach to fraud prevention is critical as the company reported investigating more than 1,000 suspicious insurance events in 2023, confirming 450 cases of fraud with a protected value exceeding Kč137m. 

This figure represents a 30% increase in protected value from 2022, where 500 frauds were identified, amounting to Kč107m. 

Kooperativa director of claim division Ondřej Poul said: “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.” 

Resistant AI CEO and founder Martin Rehak said: “We are pleased to work with Kooperativa as it rolls out a new digitised 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 combatting such deceptions.” 

In November 2023, VIG agreed to acquire an additional 35% stake in its Hungarian unit from Corvinus.