@article{Sathya_Balakumar_2022, title={Insurance Fraud Detection Using Novel Machine Learning Technique}, volume={10}, url={https://ijisae.org/index.php/IJISAE/article/view/2178}, abstractNote={<p>The ultimate focus of the insurance agency is the management of financial risks, since it includes a sizable amount of daily transactions. It is mandatory for the insurance industry to develop the capability of identifying the fraudulent activities with increased accuracy in order to minimize the excessive unwarranted loss due to claim leakage. Initially, many fraud detecting techniques has been introduced and it relies on the heuristics around fraud indicators, also on the checklist prepared about frauds. However, the above mentioned traditional techniques highly relies on the manual intervention. Therefore, for eliminating the above mentioned issues, the insurance companies are looking towards machine learning based fraud detection techniques. In this paper, initially a block chain technique is presented as a secure network by the insurance agencies to detect, store and share different customer informations. Then, a hybrid classifier called eRFSVM, which entails Random Forest (RF) and Support Vector Machine (SVM) algorithm is used for classifying the insurance frauds. Additionally, to analyse the working of the proposed work, it is implemented in Python software.</p>}, number={3}, journal={International Journal of Intelligent Systems and Applications in Engineering}, author={Sathya, M. and Balakumar , B.}, year={2022}, month={Oct.}, pages={374–381} }