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Insurance
Insurance Claims Validation
Insurance fraud costs the industry billions while legitimate claims face delays. Fiskil validates claims by verifying supporting transaction evidence from banking data.
Manual claims validation is slow, expensive, and vulnerable to fraud.
Fraudulent claims cost industry $3B+ annually in Australia
Manual validation delays claim payment by weeks
Receipts and invoices can be forged
Difficult to verify financial loss claims
Legitimate customers suffer delays while fraud is investigated
Verify claims by matching to banking transactions, providing unforgeable evidence of expenses and losses.
Verify claimed expenses match actual transactions in banking data.
Confirm receipt amounts and merchants against banking transactions.
Validate income loss claims by comparing pre- and post-incident income.
Identify fraudulent claims with no supporting transaction evidence.
Add banking data verification to your claims processing.
Customer submits claim with details of loss or expenses.
Customer authorizes banking access to validate claim details.
API matches claimed expenses to banking transactions automatically.
Validated claims are fast-tracked while unverified claims flagged for investigation.
Match claimed expenses to specific transactions by amount, date, and merchant.
Validate income loss claims by comparing income before and after incident.
Verify travel insurance claims with transaction location data.
Confirm medical expenses with transactions to healthcare providers.
Flag claims with no supporting transaction evidence as potential fraud.
Generate validation reports for claims assessors with matched transactions.
A travel insurer validates trip cancellation expense claims with transaction evidence.
Result: Reduced fraudulent claims by 45% and accelerated legitimate claim payment by 60%.
An income protection provider validates income loss with banking data.
Result: Claim assessment time reduced from 4 weeks to 3 days with automated income verification.
A health fund validates out-of-pocket medical expense claims.
Result: Detected $2.8M in fraudulent medical claims in first year while improving customer experience.
POST /insurance/validate-claimGET /accounts/{accountId}/expense-verificationPOST /insurance/income-loss-validationGET /insurance/fraud-indicatorsTransaction matches
Expense verification
Income comparison
Fraud risk indicators
Validation confidence score
Supporting evidence
OAuth 2.0 / CDR consent
Yes
Expense claims, income loss, medical costs, travel expenses, and financial loss claims can be validated.
Claims are matched to transactions by amount, date range, merchant name, and expense category.
Fuzzy matching handles minor differences (fees, exchange rates) with confidence scoring.
While not foolproof, transaction validation dramatically reduces fraud by requiring unforgeable banking evidence.
Validated claims can be processed 50-80% faster by skipping manual documentation review.
Yes, customers consent to banking data access specifically for claim validation.
Cash transactions (ATM withdrawals) can support cash expense claims but with lower validation confidence.
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Join hundreds of companies using Fiskil to power their insurance applications. Get started today with our developer-friendly API.
Products
© Fiskil 2026. All rights reserved.