Symbility Solutions Granted Patent for Automatic Fraud Detection Invention

Symbility Solutions Inc. (TSXV:SY) has been given a patent for an automatic fraud detection invention found in the Symbility Health mobile claims application.
According to the press release:

As the health insurance industry progresses in the direction of digital claims submission, Symbility’s Health Division developed a unique feature that leverages optical character recognition (OCR) and artificial intelligence to automatically detect and flag the claim for human review. This layer of automation and protection will create efficiencies in the adjudication process and enable Third-Party Administrators, Payers or Insurance Carriers to gain a distinct competitive advantage by enabling real-time claims processing with automatic fraud detection, a first in the Canadian health insurance marketplace.
The feature can be found embedded in the Symbility Health Mobile Claims application, that allows members to capture their proof of payment using their mobile device’s camera and view their coverage and dependent information, recent claims history, as well as the remaining benefit balances for commonly claimed items.
Shannon McShane-Reed, President, Symbility Health, commented, “Fraud is of continuous concern for all claims payers in today’s world of online and mobile technologies. Symbility continues to innovate and build applications that protect our clients and enhance the customer experience.”

Click here to read the full press release.