Banking API — Insurance
Banking Data-Powered Insurance Claims Validation
Validate insurance claims with banking transaction evidence. Reduce fraudulent claims and speed up legitimate claim processing with transaction verification.
Insurance fraud costs the industry billions while legitimate claims face delays. Fiskil validates claims by verifying supporting transaction evidence from banking data.
The Challenge
Manual claims validation is slow, expensive, and vulnerable to fraud.
The Solution
Verify claims by matching to banking transactions, providing unforgeable evidence of expenses and losses.
Capabilities
How Fiskil Helps
Expense Verification
Verify claimed expenses match actual transactions in banking data.
Receipt Validation
Confirm receipt amounts and merchants against banking transactions.
Income Loss Verification
Validate income loss claims by comparing pre- and post-incident income.
Fraud Detection
Identify fraudulent claims with no supporting transaction evidence.
Implementation
How It Works
Customer Files Claim
Customer submits claim with details of loss or expenses.
Request Banking Verification
Customer authorizes banking access to validate claim details.
Match Transactions
API matches claimed expenses to banking transactions automatically.
Fast-Track or Investigate
Validated claims are fast-tracked while unverified claims flagged for investigation.
In Practice
How Teams Use This
Travel Insurance Provider
A travel insurer validates trip cancellation expense claims with transaction evidence.
Reduced fraudulent claims by 45% and accelerated legitimate claim payment by 60%.
Income Protection Insurer
An income protection provider validates income loss with banking data.
Claim assessment time reduced from 4 weeks to 3 days with automated income verification.
Health Insurance Fund
A health fund validates out-of-pocket medical expense claims.
Detected $2.8M in fraudulent medical claims in first year while improving customer experience.
Technical Details
What You Integrate With
API endpoints
POST /insurance/validate-claimGET /accounts/{accountId}/expense-verificationPOST /insurance/income-loss-validationGET /insurance/fraud-indicators
Data returned
Transaction matches
Expense verification
Income comparison
Fraud risk indicators
Validation confidence score
Supporting evidence
Authorisation
OAuth 2.0 / CDR consent
Real-time data access.
Ready to get started?
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FAQs
Related Use Cases
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