Ahead of the Insurance CX Awards on 1st February 2023, Modern Insurance Magazine sat down with Lior Koskas, CEO at Digilog UK, to discuss their product and the ways in which technology can reduce opportunistic, repeat and pre-meditated fraud.

Q. Hi Lior, it’s great to have you on board as a sponsor for the 2023 Insurance CX Awards! Why don’t we start by talking about Digilog, the services you provide and the work you’re up to over there. Tell me more about that.

A. We are an international business, driven by passion, focus and dedication to deliver our leading and advanced Voice Risk Analysis technology, alongside bespoke training for validating integrity within conversation-based transactions using our specialist software – DiVA (Digital intelligence Voice Analysis) across our customer markets, including Insurance, Banking, Collections, HR & Recruitment.

Machine Learning capabilities also provide a fast, effective and efficient process with the ability to assess potential risk in real-time, improving customer due diligence and accelerating the processing of legitimate applications, claims, disputes, etc.

With a wealth of knowledge pertaining to risk screening and investigative practices, we are continuously investing our budget in people, technology and processes. This helps us to further develop, sustain and innovate our business.

Q. How do Digilog adopt a holistic approach to helping clients achieve their goals and business objectives?

A. Ahead of any deployment, we spend time with the client to ensure we have a full understanding of their process from start to finish. This enables us to design and deliver our pioneering solution to meet the differing and unique risk exposures of individual businesses and their varied processes.

What’s more, our training approach – alongside the implementation of the technology – is designed to be easily integrated to meet our clients business needs and objectives. Therefore, we have full confidence in our knowledge and expertise to work collaboratively with our customers to deliver a tailored risk reduction solution.

Q. You’re a world-leading expert in the development of Voice Risk Analysis (VRA) technology. Tell me more about your background and how you got into this line of work.

A. I have been fortunate enough over the years to work on a wide range of international assignments and high-profile fraud and criminal cases with various corporate and public bodies, including police and security services in the UK, US Homeland Security, EU and the Far East.

Working in the technology and software space all my business life, I was part of the team that helped with the development of Voice Risk Analysis (initially for security purposes) from day one, which gave me a valuable insight into new and emerging applications.

Like with any technology, it is important not to stand still. With the vast experience my team and I gathered over the years using such technology, it allowed us to scope and develop the latest generation of VRA, now incorporating machine learning and AI to name just a couple of improvements.

Q. How do you see the prevalence of fraud evolving as we move through a cost-of-living crisis and growing economic uncertainty?

A. Technology and our ability to communicate has evolved, and as a result, so has fraudulent activity. Fraudsters can be split into 3 categories, the first of which is the ‘Opportunist’ – where a genuine incident has occurred, but the person decides to falsely exaggerate the circumstances to increase the benefits they could receive. Alternatively, a genuine incident occurs, but no cover exists so circumstances are fabricated to meet policy criteria.

We can reasonably assume that the financial impact the cost-of-living crisis has on us all will inevitably cause an increase in ‘one-off’ fraudulent activity by members of the public who would otherwise be considered law abiding citizens.

The second category is ‘Repeat’ fraudster – an ‘Opportunist’ who succeeds and does it again. Perhaps they succeeded once in committing a fraud and saw how easy it was. Having now ‘got away with it,’ they decide once more to take advantage and repeat their fraud.

The third category is ‘Pre-meditated’. These are deliberate individuals or organised criminal gangs who meticulously plan the fraud in advance; for example, taking out a policy, obtaining the personal and financial information of an innocent victim and establishing false accounts.

All businesses within the insurance market are faced with the prospect of fraud and the risk it presents as a growing threat. There is no hiding place for those who fail to train their workforce to identify potential risk, or similarly embrace new technologies to assist with the identification of such risk in real-time.

I believe that working together and merging cutting edge capabilities into ergonomic platforms and systems is the way forward, and a far better option than trying to reinvent the wheel. One of the main aims being to ensure the customer journey is, as far as it can be, uncomplicated and undemanding – let the technology do the hard graft, not our valued customers!

Q. Which aspects of the Insurance CX Awards piqued your interest, and what are you most looking forward to on the night?

A. Awards nights usually brings key people together from within the industry, and it’s a great opportunity to meet existing clients – as well as new faces – who will shape the future of insurance.

I congratulate all the finalists throughout the various categories and know how much hard work is needed all year round to get to that position. I look forward to seeing who has clinched the top spot!

Q. If you could offer one piece of advice to the award winners based on your own experience in the industry, what would that be and why?

A. A simple one; Winning an award is an acknowledgement for the work they have done up to that point. Don’t take your foot off the pedal and ensure you maintain the high standards that brought you this far.

About Digilog: 

Digilog UK Ltd is a leading provider of Integrated Risk-Reduction Solutions and bespoke training for validating integrity within conversation-based transactions such as Applications, Claims, Customer Disputed Transactions and Investigative Interviews.

Find out more by checking out their website here: https://digiloguk.com/