Fraud detection document automatisation

In Germany alone, the losses run into billions every year: Insurance companies and banks, the public sector and the property industry struggle with the consequences of document fraud. Fictitious medical bills to obtain benefits from supplementary insurance policies. Falsified prescriptions to bill private health insurance companies for more than than the amount justified. False proof of income to obtain credit despite a low credit rating. Illegal multiple insurance policies to settle the same claim thirty times - the list of fraud examples goes on and on.

ICO-LUX uses its products to help check for fraud. The aim is to recognise attempts at fraud before fraudulent benefits are paid out or loans are approved - using document forensics and artificial intelligence (AI) that is as secure as it is fast and fully compliant with data protection regulations.

Innovation between AI, computer vision und cryptography

ICO-LUX is a young company founded on the basis of research that is constantly winning awards for its innovative technologies. The German market leader for automated document authentication and document forensics combines expertise from the fields of artificial intelligence, machine learning, computer vision and cryptography with specialist expertise from the insurance and banking sectors. The goal: to always be a few steps ahead of those who forge, scam and cheat and to ensure that the efficiency gains of digitalisation are not lost to fraud.

Fraud prevention and automated document processing

Automated document processing helps banks and insurance companies to work cost-efficiently and make quick decisions. However, digitalised processing routes open the door to fraud: In the private health insurance sector in Germany alone, this results in an annual loss of around five billion euros! Thanks to ICO-LUX solutions such as ICO.Fraud, ICO.Link and ICO.Match, document forensics and AI can be used to optimise fraud checks and close the gap.

Data protection and encryption

ICO-LUX technology automates the authentication of documents with a completely new approach: document forensics is the unique combination of smart vision algorithms and cognitive automation. The ICO-LUX software is based on the approach of fraud experts when checking documents, but is able to check documents much more precisely, quickly and cost-effectively. The software can provide clear and fair warnings of forgeries in real time. It also uncovers cases from the past thanks to innovative fraud checks, enabling service providers to identify black sheep. The software enables efficient case checking thanks to comprehensible rule estimates and tools for processing, and documents can be checked both in real time and retrospectively.