Spraoi’s Machine Learning Solution Deployed for Reliance Standard’s Retirement Services Operations
Spraoi announced that Reliance Standard Life Insurance Company (Reliance Standard) successfully deployed models for the identification of operational inconsistencies (e.g. churning, anomalous activity) across new business and in-force transactions within their block of traditional and indexed annuity business. The Spraoi solution now provides visibility into transactions for increased scrutiny for all Reliance Standard’s annuity products. The scope of this project was to complete a review of Reliance Standard’s historical transactions to develop models that will identify transactions that should be further analyzed. The successful completion of this program provides Reliance Standard with a tool to screen all transactions, increasing safeguards for their customers.
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“Taking a proactive stance on the detection of operational anomalies will improve our ability to protect the well-being of our customers,” said Kyle Ryan, Reliance Standard’s VP Operations of Retirement Services.
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