Consint has built a suite of products to prevent/mitigate fraudulent claims, streamline payment processes, identify and mitigate leakages in the healthcare ecosystem, offer actionable insights for SOP formulation and workflow automation using multimodal datasets, a proprietary rule engine and a ML based risk engine. The company is working with Insurance and hospitals across both India and Middle East, having processed over 20M claims.
Insurance companies and hospitals face challenges such as claim leakage, document tampering and fraud, billing fraud, collusion in claim submission, policy non-adherence. Advancements in technology have enabled malignant agents to create complex frauds. Existing solutions are facing a challenge in handling and efficiently processing the current volumes of claims.
India’s Gross Written Premiums (GWP) market crossed $130Bn last year. In 2023, the insurance fraud market in India accounted for $6- 10Bn worth of loses annually, with expected CAGR of 20%+. Consint is led by insurance industry veterans whose deep understanding of the problem and sales network/experience is enabling a healthy growing pipeline. They have secured recurring contracts with large players in India and MENA emphasizing the need for current product. The extensive database trained efficient models coupled with their multi modal forensics platform offer a IP which can set them apart from competition. Being a SaaS offering, the company has healthy financial margins.
Decade of experience working with large firms like United Health Group. Lead Global Analytics Team building AI and Analytical Solutions for 30+ domains, development of Enterprise Products, capability development with early adoption of Big Data, Cloud technologies and Graph Analytics at scale