Case Study: Ydrogios Insurance increases fraud detection and cuts claim settlement time with SAS Detection and Investigation for Insurance

SAS provides investigators a unified view of the fraud risk

Ydrogios Insurance, one of Greece’s largest insurers, faced a surge in automotive fraud after the financial crisis—fraudsters inflated damage, shifted liability and concealed links between claimants and customers. Detecting these schemes was hard because relevant data came from disparate, low-quality sources, and the company needed a way to identify fraud proactively, even before contracts were registered.

Ydrogios implemented SAS Detection and Investigation for Insurance to unify internal and external data and run real-time AI/ML analytics, predictive models, text mining and network link analysis. The result: fraud detection rose from 0.5% to 2% (a 1.5-point increase), new claims fell 5% annually, claim settlement time dropped by 20%, investigators now see visualized risk in about 10 minutes, and the company lowered claim costs and premiums while improving customer satisfaction and competitive advantage.

Ydrogios Insurance

Thanos Angelopoulos

Chief Risk and Actuarial Officer