104997Conversational Artifical Intelligence - a unique real-time voice analytics technology providing highly accurate behavioural determinations - scalably enabling the identification of fraud in insurance claimsClosedFeasibility StudiesInnovate UK"Latest figures for 2017 indicate the volume of frauds recorded by Action Fraud is the highest it has ever been at 272,980 offences(5,250/week), insurance fraud totals a value of £3B/yr. Dishonest liability claims (""slip and trip"") rose 36%/yr since 2015 with claims value up 14% (£391M), however the biggest victim is car insurance, with 80,000 claims detected 2017(£1B). These resulted in increases of insurance premiums and time/review before insurers pay legitimate claims (increased scrutiny of honest customers). At insurance contact centres (first contact point), there are limited current solutions to identify exaggerated claims information. Statistical models identify claim types that have higher probability of being fraudulent; voice stress tests identify changes in pitch&tone. These don't provide a defined output (only indicate 'likelihood') and are easily influenced by line of conversation/first languages/mental health/hearing difficulties. No current solution can measure linguistical changes, which is the primary identification parameter for this type of fraud. Conversational AI (CAI) is developing an entirely innovative model combining the unique team expertise of insurance fraud/behavioural analytics/detective work/machine learning/language processing to a near real-time call ""credibility"" score to identify fraudulent insurance claims. The company plans to provide their software as an add-on service to existing call recording platforms thereby offering: automated screening of every call increasing investigation efficiency by a factor of 60/data transparency/enhanced customer outcomes/safeguarding vulnerable customers/ensuring regulatory compliance/improving anti-fraud measures. CAI are well placed to exploit this opportunity, having already established basic linear algorithms with the ability to detect 50 nuances in human behaviour to understand contextualise emotion, successfully identifying deception using manually transcribed call data. As a new joint venture combining Intelligent Voice's existing and proven language processing capability with Strenuus' behavioural analysis expertise, CAI will develop a software system capable of identifying human interaction using GPU powered automatic speech recognition transcripts. Interest has already been expressed from voice biometric software providers offering open access to their API for data acquisition, and contact centres who have confirmed their willingness to trial the solution. With support from Innovate UK a 12-month programme of R&D is required to deliver a validated system in a closed live environment, identifying crucial markets in caller credibility assessment based on-agent and caller interaction. CAI has the potential to disrupt the voice biometric and anti-fraud markets with global exploitation potential. The project will deliver export led growth for CAI, a substantial ROI (12700%), increased employment(25 additional jobs) and further R&D opportunities."