Ferrand will lead the company’s enhanced LTC fraud program
LTCG is partnering with outside data analytics experts to develop suspected fraud detection criteria based on the company’s vast amount of industry and claims data. Through proprietary algorithms and machine learning, these dynamic criteria will be used to automatically identify suspicious claims for additional review. Ferrand’s team of fraud investigators will then review the cases and will be able to manage the entire process for LTCG’s clients from start to finish. This group will be dedicated to addressing all of the unique challenges that come with fraud detection in the LTC insurance space.
Ferrand is an insurance attorney and fraud expert well-regarded by all of the leading LTC insurers. He joins LTCG after serving as the chief fraud officer at
In this new role, Ferrand will lead the development of LTCG’s end-to-end fraud detection, investigation and mitigation solution, overseeing an experienced staff of fraud professionals. He will also design LTCG’s data mining approach, which will leverage volumes of data the company has gained over 25 years in business as the largest third-party claims payer serving leading LTC insurers.
“Joining LTCG gives me an incredible opportunity to apply the knowledge I’ve gained in insurance fraud over the past two decades,” said Ferrand. “Because the company serves all of the top insurers and has such a significant amount of data, I’m equipped to immediately start working with my new team to build out this cutting-edge solution.”
A recent survey of LTC insurers by the
“We are making a substantial investment to enhance our fraud detection and mitigation capabilities, which fits within our strategy to offer value-added claims management services to our growing list of clients,” said LTCG’s CEO
This new addition to LTCG is just one of the ways that the company is developing a world-class claims management solution to address this trend. LTCG has also recently built out its CareExchange EVV platform, along with wellness and electronic claims solutions that will help its customers better manage these costs.
LTCG is the leading provider of administrative solutions and clinical services to the long term care and life insurance industry, with over two decades of experience in this space. LTCG currently manages over one million policies and serves more than 100 carriers nationwide. The company addresses all types of customer needs and policy requirements—from application processing and underwriting of new business to claims and administration of open and closed blocks. LTCG’s advanced data analytics, actuarial and risk management capabilities and unmatched industry expertise can help organizations manage their business and develop emerging products such as hybrid life/long term care policies. LTCG also helps carriers bend the cost curve through innovative provider solutions and wellness programs. For more information, visit www.LTCG.com.