The results of the first claims analysis conducted in the UAE show that RiSIC increases denial rate from 5% to 8.4%., stated Kiril Milev, our Managing Director of the Middle East division his interview at the UAE newspaper National. In addition, he presented the results also at the Middle East Healthcare Insurance Conference on 25 September 2018, in Oman, see presentation here.
The UAE specifically is a high-risk market for insurers because the healthcare market is growing at such a fast pace. The market is dominated by the private sector with a mandatory insurance requirement. In the conducted analysis, we detected absurd amounts of fraud, waste and abuse. Remarkable about our product RiSIC is that it is fed with historical data and tunes up for the business specifics, starting its first day on the job already understanding the local market nuances and unique claims patterns that the business deals with.