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AI Fraud Detection & Insurance Innovation: Build Custom In-House Solutions

Ilan Gross

31 March 2025

Why to build your own AI

Building an internal AI system gives insurers full control to tailor fraud detection to their unique data, processes, and regulatory needs. It leverages in-house expertise, ensures IP ownership, and enables rapid adaptation to new fraud patterns. With the flexibility to innovate, insurers can stay ahead of threats and drive long-term value.

Tailored Control and Customization

Insurers maintain full ownership and control over the solution, allowing them to adapt and tailor it precisely to their unique workflows, regulatory requirements, and evolving business strategies.

Deep Internal Expertise

With an intimate understanding of their own data landscapes and operational challenges, internal data science and IT teams are best positioned to design solutions that directly address real pain points and opportunities.

Building Long-Term Institutional Knowledge

At Lumen Business, we empower organizations to take control of every stakeholder relationship through advanced, AI-powered platforms built for real-time monitoring, verification, and fraud detection.

Ownership of Intellectual Property and Processes

Insurers preserve full rights to their intellectual property, including proprietary algorithms and business processes, ensuring strategic independence and long-term value creation.

Freedom to Innovate and Experiment

With full control over their technology stack, insurers have the flexibility to explore and adopt cutting-edge tools and emerging technologies, enabling them to rapidly prototype, iterate, and gain competitive advantages.

Strong Customer Base Enhances Product Evolution

While the current customer base provides a solid foundation, expanding into new regions or business lines presents a valuable opportunity to accelerate product maturity and innovation.

Trusted Partnership with Proven Vendors

Engaging with software partners involves a level of commitment—selecting a well-established, resilient vendor with a strong track record helps ensure long-term success and continuity.

Strategic Alignment Opportunities

Vendor and insurer strategies may differ at times, offering a valuable opportunity for proactive collaboration and strategic dialogue to align roadmaps and unlock mutual growth.

Balanced Investment for Faster Value Realization

Accelerated time-to-value often involves a higher initial investment, which enables organizations to start benefiting from the solution sooner and achieve ROI more quickly.

Flexible Solutions with Built-in Configurability

While no off-the-shelf solution fits every unique requirement, modern vendor platforms typically offer strong configurability, allowing businesses to tailor the system to their evolving needs.
 

Ready to Redefine Your Fraud Defense?

Book your free consultation today and see how Lumen Business Solutions’ AI-powered platform ensures precision-driven control over every process, every transaction, and every emerging threat.

Picture of Ilan Gross

Ilan Gross

Picture of Ilan Gross

Ilan Gross

Ilan Gross is a distinguished pioneer and authoritative leader in the IT industry, boasting over two decades of unparalleled expertise in CRM systems and CRM strategy. As the Principal Zoho CRM Consultant at Lumen Business Solutions, Ilan has revolutionised the way B2B enterprises leverage CRM solutions, firmly establishing himself as a cornerstone of technological innovation and strategic prowess. His specialisation in integrating cutting-edge sales methodologies like SPIN, Gap Analysis, and Challenger Selling into CRM platforms has not only set new standards in the industry but has also redefined the essence of customer relationship management for enterprise customers. Ilan's visionary approach extends beyond traditional CRM systems; he is a trailblazer in AI development, AI implementation, and AI consulting, particularly noted for his pioneering work with private ChatGPT on the Azure platform. His foresight in recognising the transformative potential of AI in business processes has led to the creation of numerous AI applications for enterprise solutions, further solidifying his reputation as a leader in driving technological advancement and innovation. Under Ilan's leadership, businesses have experienced groundbreaking advancements in revenue-lifting strategies. Through his expert guidance, enterprises have not only improved their sales processes and customer engagement but have also witnessed substantial increases in revenue. Ilan's mastery of CRM systems, combined with his deep understanding of the strategic needs of large-scale businesses, positions him as an indispensable asset for any organisation aiming to scale and excel in today's competitive market. Moreover, Ilan Gross is celebrated as a pioneer of software development tools, including Aware IM and Magic Software. His contributions to these platforms have been instrumental in empowering developers and businesses alike, enabling them to build powerful, efficient applications with unprecedented ease and flexibility. This aspect of his expertise further underscores his role as a visionary leader, whose influence spans across the entire spectrum of IT development and strategy. In sum, Ilan Gross stands as a paragon of innovation and leadership in the IT industry. His exceptional skill set, combined with his pioneering contributions to AI and software development, marks him as a pivotal figure in shaping the future of technology for enterprise success.