PHILADELPHIA, July 9, 2024 /PRNewswire/ — Angeion Group is excited to announce the launch of AngeionAffirm 2.0, marking a new era in fraud prevention for class action settlement administration. By integrating bank-level fraud detection with our unique data insights, AngeionAffirm 2.0 surpasses the capabilities of any single fraud prevention solution on the market and creates a more enjoyable and just claimant experience.
Remarkably, during claim submission, AngeionAffirm 2.0 is able to make a real-time determination as to whether the filer is a real person or an electronic fraud which is communicated to the claimant immediately. By utilizing advanced fraud detection at the beginning of the claim process, AngeionAffirm 2.0 also reduces the possibility of unfairly rejecting real class members, which occurs too frequently with other services on the market. Our approach ensures that claim volume reporting is accurate and reflects the flow of legitimate filings, providing increased transparency and better budget management throughout the administration process. It also cuts down on false positives that invariably irritate legitimate claimants.
Angeion Group is not only keeping pace with but winning the arms race against increasingly sophisticated fraudsters. By minimizing fraud and keeping the focus squarely on the claimants’ user experience, Angeion Affirm 2.0 sets the new standard in fraud prevention.
How AngeionAffirm 2.0 Works
AngeionAffirm 2.0 incorporates an entirely new and novel approach to fraud prevention while avoiding legacy fraud detection methodologies that have proven problematic in large cases, such as relying on IP address analysis.
At a high level, AngeionAffirm 2.0 works by:
- Reviewing multiple aspects of the claim submission to identify if the information is being submitted programmatically. This analysis is largely based on signatures Angeion has identified through the analysis of over 100M claims.
- Verifying the veracity of all information provided by the claimant using a bespoke combination of sophisticated services to minimize the likeliness of false positives.
How AngeionAffirm 2.0 is Different
Legacy approaches to fraud detection rely on identifying unusual patterns in the submission data. These can vary from sophisticated machine learning techniques to basic IP address groupings. The inherent challenge with these approaches is that it is analogous to profiling a person based merely on their facial appearance. Real, honest claimants may unfairly get marked as fraud under a legacy approach because the claimant unwittingly filed on a mobile network tower or used a standard VPN. We are unwilling to accept that risk.
Angeion’s approach is to corroborate the validity of the information being provided at the time of filing. If, and only if, we cannot corroborate identity immediately, do we require claimants to submit additional information. This approach is an industry first because it allows genuine claimants to be notified of potential issues with their filing instantly, whereas, in a legacy analysis, they may have been incorrectly identified as fraudulent and would only be provided the opportunity to cure their claim many months later, if at all.
To truly appreciate this momentous leap forward in both fraud protection and client service that AngeionAffirm 2.0 represents, we invite you to experience it firsthand. Contact Angeion Group to attempt to challenge the robust fraud prevention features, yourself.
For more information, email [email protected].
SOURCE Angeion Group
