Automated Secure Computing for Next-Generation Systems

8A Novel and Efficient Approach to Detect Vehicle Insurance Claim Fraud Using Machine Learning Techniques

Anand Kumar Mishra¹*, V. Hemamalini², Amit Kumar Tyagi³, Piyali Saha⁴ and Abirami A.⁵

¹Computer Science and Engineering, NIIT University, Neemrana, Rajasthan, India

²Department of Networking and Communications, School of Computing, SRM Institute of Science and Technology, Chennai, India

³Department of Fashion Technology, National Institute of Fashion Technology, New Delhi, Delhi India

⁴School of Computer Science and Engineering, Vellore Institute of Technology, Chennai, Tamil Nadu, India

⁵Department of Information Technology, Bannari Amman Institute of Technology, Sathyamangalam, Erode, Tamil Nadu, India

Abstract

The past few years have seen an increase in fraud cases for all types of claims at insurance companies operating as commercial enterprises. Since the amount fraudulently claimed is quite large and could result in serious issues, in addition to the government, other entities are working to identify and curtail such activity. Related frauds happened in all insurance claim industries with great severity, including insurance claims for the automobile sector, which is a scam that is prominently and regularly claimed and which may be accomplished by making fraudulent accident claims. Hence, in order to identify fraud and inflated claim amounts, we plan to construct a project that uses data from insurance claim sets. In order to construct a model to label and classify ...