Findings from University of Leuven (KU Leuven) Broaden Understanding of Engineering (Claims Fraud Detection With Uncertain Labels): Engineering

2023 DEC 26 (NewsRx) -- By a News Reporter-Staff News Editor at NewsRx Policy and Law Daily -- New research on Engineering is the subject of a report. According to news reporting originating from Leuven, Belgium, by NewsRx correspondents, research stated, “Insurance fraud is a non self-revealing type of fraud. The true historical labels (fraud or legitimate) are only as precise as the investigators’ efforts and successes to uncover them.”

Our news editors obtained a quote from the research from the University of Leuven (KU Leuven), “Popular approaches of supervised and unsupervised learning fail to capture the ambiguous nature of uncertain labels. Imprecisely observed labels can be represented in the Dempster-Shafer theory of belief functions, a generalization of supervised and unsupervised learning suited to represent uncertainty. In this paper, we show that partial information from the historical investigations can add valuable, learnable information for the fraud detection system and improves its performances. We also show that belief function theory provides a flexible mathematical framework for concept drift detection and cost sensitive learning, two common challenges in fraud detection.”

According to the news editors, the research concluded: “Finally, we present an application to a real-world motor insurance claim fraud.”

This research has been peer-reviewed.

For more information on this research see: Claims Fraud Detection With Uncertain Labels. Advances in Data Analysis and Classification, 2023. Advances in Data Analysis and Classification can be contacted at: Springer Heidelberg, Tiergartenstrasse 17, D-69121 Heidelberg, Germany. (Springer - www.springer.com; Advances in Data Analysis and Classification - http://www.springerlink.com/content/1862-5347/)

The news editors report that additional information may be obtained by contacting Felix Vandervorst, University of Leuven (KU Leuven), Faculty of Economics and Business, Naamsestr 69, B-3000 Leuven, Belgium. Additional authors for this research include Wouter Verbeke and Tim Verdonck.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1007/s11634-023-00568-0. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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