Czech Republic-based insurance company PojišÅ¥ovna Kooperativa has partnered with Resistant AI , a company specialising in financial crime prevention using artificial intelligence and machine learning. Kooperativa uses Document Forensics technology to verify documents submitted by clients as part of the insurance claim settlement process.

Through this partnership, the company aims to leverage Resistant AI’s technology to provide a more accurate document verification process that can identify fraud undetectable by the human eye. AI tools to increase document verification speed and accuracy As Kooperativa’s officials explained, the company is seeking to actively implement artificial intelligence tools to increase its document verification speed and accuracy to detect attempted fraud before it can happen. Also, the company has been using artificial intelligence to check the photos that clients send when taking out accident insurance electronically.

Currently, it has extended the check to other documents as well. Therefore, document forensic analysis provided by Resistant AI will ensure a quick and accurate check of many documents. Moreover, the official announcement shows that as document falsification increases throughout the financial industry, insurance is particularly vulnerable to sophisticated fraud techniques.

Attempting to combat it, Resistant AI ran a pilot project that checked nearly a quarter of a million documents during calibration, uncovering numerous inconsistencies. In cooperation with the investigators, it was subsequently possible to identify insurance frauds and stop the insurance payments. The company exemplified one case where the client reported to Kooperativa a fracture of the heel bone, which was mentioned in the sent medical report.

Document Forensics revealed that the report had been electronically altered in the diagnosis text. After the investigation, the suspicion was confirmed, revealing that it was only a sprained ankle, a less serious injury. Commenting on this collaboration, Resistant AI said that it is looking forward to introducing a new digitised approach to document verification processes.

Moreover, the company believes that when fraudulent activities often exceed human detection capabilities, the deployment of artificial intelligence represents an effective strategy for identifying and combating such fraud. Resistant AI development Resistant AI is a Czech Republic-based company Backed by GV (formerly Google Ventures), Index Ventures, Credo Ventures, Seedcamp, Notion Capital, and several angel investors specialising in fintech and security. The company uses artificial intelligence and machine learning to provide identity forensics solutions that protect automated financial services from fraud and manipulation, including customer onboarding, AML, and existing fraud detection systems.

Resistant AI has deep expertise in machine learning, artificial intelligence, and computer security, with over 16 years of experience applying artificial intelligence to computer security. Moreover, in June 2023, the company extended its Series A funding round to USD 27.6 million to expand its product developments, team, and geographical presence. .