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Hong Kong insurers bank on technology to detect fraudulent claims in one corner of US$75 billion industry



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Hong Kong insurers are strengthening their efforts to stamp out fraudulent claims involving critical illness policies following a rise in such cases in one small corner of the city’s US$74.7 billion industry.The Hong Kong Federation of Insurers, which represents 138 insurance providers, will expand its Insurance Fraud Prevention Claims Database to cover these policies, relying on artificial intelligence and blockchain technology to detect anomalies.The database introduced in 2018 currently…

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