Case Study: IFFCO-Tokio saves over $1M a year on fraud detection with H2O.ai

IFFCO-Tokio saves over $1M a year on fraud with H2O.ai

IFFCO-Tokio, a general insurance provider, faced significant financial losses from fraudulent motor and health claims. With a high volume of daily claims, their officers lacked the time to thoroughly investigate each case. To address this challenge, they partnered with H2O.ai to implement an automated fraud detection solution using the H2O AI Cloud platform.

IFFCO-Tokio deployed H2O AI Cloud on-premise to build models that automatically score each claim for its probability of fraud. Guided by H2O.ai, their team used the platform to identify suspicious patterns and links in historical data. The solution implemented by H2O.ai saves the company over $1M annually, flags 100x more fraudulent claims per month, and has increased customer retention by 3%.

IFFCO-Tokio