Amazon Sagemaker
Amazon SageMaker is a fully-managed platform that enables developers and data scientists to quickly and easily build, train, and deploy machine learning models at any scale. With Amazon SageMaker, all the barriers and complexity that typically slow down developers who want to use machine learning are removed. The service includes models that can be used together or independently to build, train, and deploy your machine learning models.
Insurance Claims Fraud Detection Model
Latest Version:
1.0
Detection of Fraudulent claims in General and Health Insurance
Product Overview
Claims Fraud is a serious problem for Insurance Companies as it brings down their profits considerably. Currently, This problem is handled using either internal scoring based engines or rely on Third party agencies for investigations. These rule based systems are static in nature and involve lot of manual efforts, making the process slow and prone to errors. To tackle this, Virtusa-GCTS has developed a Machine-Learning based solution which will flag suspect claims as ‘fraud’ and those claims can be subjected to more scrutiny. It uses Boosting based AI models and saves considerable effort.
Key Data
Version
Categories
Type
Model Package
Highlights
Solution leverages web of information including Claim Details, Policy Information, and Claimant details to predict the likelihood of fraud.
Solution is capable of handling General Liability and Healthcare related claims.
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Pricing Information
Use this tool to estimate the software and infrastructure costs based your configuration choices. Your usage and costs might be different from this estimate. They will be reflected on your monthly AWS billing reports.
Estimating your costs
Choose your region and launch option to see the pricing details. Then, modify the estimated price by choosing different instance types.
Version
Region
Software Pricing
Model Realtime Inference$0.00/hr
running on ml.t2.medium
Model Batch Transform$0.00/hr
running on ml.m5.large
Infrastructure PricingWith Amazon SageMaker, you pay only for what you use. Training and inference is billed by the second, with no minimum fees and no upfront commitments. Pricing within Amazon SageMaker is broken down by on-demand ML instances, ML storage, and fees for data processing in notebooks and inference instances.
Learn more about SageMaker pricing
With Amazon SageMaker, you pay only for what you use. Training and inference is billed by the second, with no minimum fees and no upfront commitments. Pricing within Amazon SageMaker is broken down by on-demand ML instances, ML storage, and fees for data processing in notebooks and inference instances.
Learn more about SageMaker pricing
SageMaker Realtime Inference$0.056/host/hr
running on ml.t2.medium
SageMaker Batch Transform$0.115/host/hr
running on ml.m5.large
Model Realtime Inference
For model deployment as Real-time endpoint in Amazon SageMaker, the software is priced based on hourly pricing that can vary by instance type. Additional infrastructure cost, taxes or fees may apply.InstanceType | Realtime Inference/hr | |
|---|---|---|
ml.t2.medium Vendor Recommended | $0.00 |
Usage Information
Model input and output details
Input
Summary
• Claim Related information: Claim related information such as Loss date, Claim type, Location and loss description etc. are taken from the claim database. • Insured/Claimant Details: This solution accesses the Claimant details pertaining to Claimant demographic and details about the historically filed claims by the claimant. • Policy Info: Policy related information such as Policy Start and End Dates, LOB, etc. are mapped to identify the specific patterns in fraudulent claims.
Input MIME type
text/csvSample input data
Output
Summary
Probability of a claim with which it can be categorized as a Fraudulent claim.
Output MIME type
text/csvSample output data
Sample notebook
Additional Resources
End User License Agreement
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Support Information
Insurance Claims Fraud Detection Model
AWS Infrastructure
AWS Support is a one-on-one, fast-response support channel that is staffed 24x7x365 with experienced and technical support engineers. The service helps customers of all sizes and technical abilities to successfully utilize the products and features provided by Amazon Web Services.
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