As you know, we’ve created a set of recommended guidelines for gathering, handling and inspecting digital media used to make business decisions. This week we’ll discuss the fifth guideline, Contextual anomalies.
Similar to digital media processing, contextual anomalies are not a sure sign of fraud but are useful in identifying cases where straight-through processing is not appropriate and further interaction may be necessary.
A couple of example of contextual anomalies include:
Contextual anomalies should be identified by examining and comparing the metadata of digital media across each transaction record and analyzing anomalies. While the anomalies themselves may not point to fraud, it might signal a need to look deeper into the circumstances of the claim or transaction.
Attestiv’s record-level reporting examines each data record containing related digital media items (e.g. all images in a single claim) to determine potential anomalies within the record.
Contextual anomalies are suspicious and call for investigation of additional circumstances of a record or claim, but they are not necessarily an independent indicator of fraud. While it’s entirely plausible that locations may vary for submitted auto claim photos, depending on the location of the vehicle, it is less plausible for location to vary across home claim photos.
Attestiv presents these anomalies so insurers are able to investigate the underlying circumstances in more detail.
While none of these are simple solutions, eliminating undesirable processing is a critical aspect of ensuring business quality digital media.
Attestiv offers a suite of solutions to implement, enforce and audit best practices for digital media intake. Attestiv can be customized and implemented discretely via APIs to build a set of best practices around digital media intake that are sustainable, consistent and tamper-resistant, as part of an incremental business improvement process.
Attestiv provides authenticity and validation for digital photos, videos and documents using patented tamper-proofing blockchain technology and AI analysis.
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Attestiv Platform verifies the authenticity of digital media and data for businesses who want to build trust, save money, and improve service.
Nicos Vekiarides is the Chief Executive Officer & co-founder of Attestiv. He has spent the past 20+ years in enterprise IT and cloud, as a CEO & entrepreneur, bringing innovative new technologies to market. His previous startup, TwinStrata, an innovative cloud storage company where he pioneered cloud-integrated storage for the enterprise, was acquired by EMC in 2014. Before that, he brought to market the industry’s first storage virtualization appliance for StorageApps, a company later acquired by HP.
Nicos holds 6 technology patents in storage, networking and cloud technology and has published numerous articles on new technologies. Nicos is a partner at Mentors Fund, an early-stage venture fund, a mentor at Founder Institute Boston, where he coaches first-time entrepreneurs, and an advisor to several companies. Nicos holds degrees from MIT and Carnegie Mellon University.
Mark Morley is the Chief Operating Officer of Attestiv.
He received his formative Data Integrity training at Deloitte. Served as the CFO of Iomega (NYSE), the international manufacturer of Zip storage devices, at the time, the second fastest-growing public company in the U.S.. He served as the CFO of Encore Computer (NASDAQ) as it grew from Revenue of $2 million to over $200 million. During “Desert Storm”, Mark was required to hold the highest U.S. and NATO clearances.
Mark authored a seminal article on Data Integrity online (Wall Street Journal Online). Additionally, he served as EVP, General Counsel and CFO at Digital Guardian, a high-growth cybersecurity company.
Earlier in his career, he worked at an independent insurance agency, Amica as a claims representative, and was the CEO of the captive insurance subsidiary of a NYSE company.
He obtained Bachelor (Economics) and Doctor of Law degrees from Boston College and is a graduate of Harvard Business School.