An evolutionary approach to fraud management

Marcello Galeotti, Giovanni Rabitti, Emanuele Vannucci

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)

Abstract

Building on several contributions to the analysis of insurance fraud, we propose a dynamical model of the fraudulence game, where three typologies of players interact: the insurance company, the fraudsters and the honest insured (who may be tempted to become dishonest), each one taking decisions on the basis of an adaptive strategy.

It follows from the mathematical analysis that several scenarios and different asymptotic outcomes of the game are possible. In all cases, managerial/actuarial interpretations and implications are provided, suggesting how insurers can adapt proper control policies both to evolving behaviours of policyholders and to different external (economical, geographical, social) contexts.
Original languageEnglish
Pages (from-to)1167-1177
Number of pages11
JournalEuropean Journal of Operational Research
Volume284
Issue number3
Early online date17 Jan 2020
DOIs
Publication statusPublished - 1 Aug 2020

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