Topic: Using Analytics, Cloud, and AI to address fraud in Worker’s Compensation Insurance and Healthcare industry

Insurance fraud is one of America's largest crimes — at least $80billion is stolen each year.In 2011, $2.27 trillion was spent on health care and more than four billion health insurance claims were processed in the United States. It is an undisputed reality that some of these health insurance claims are fraudulent. Although they constitute only a small fraction, those fraudulent claims carry a very high price tag. With rising insurance and healthcare costs, the fraud in workers compensation insurance, and health care is also getting out of control.

Use of modern technology previously unavailable makes it possible to identify suspicious behavior, quantify and address even complex cases of fraud possible with considerable ease and affordable costs.

Srini Madala is a successful entrepreneur based in silicon-valley. He is the founder and CEO of Aquila Systems AI, a cloud-based analytics and AI product to address fraud in insurance and healthcare industry.  Srini also is the founder and Chairman of the SoftSol group of companies based in the US and India. He has excellent experience and track record in starting companies from scratch boot strapping them to grow, and had prior experience in taking a company public as well as M&A.

Srini served on the Board of Directors at KQED (www.kqed.org), Pratham USA in Silicon Valley, and has also served the city of Monte Sereno in the capacity of Site and Architecture Commissioner. Srini is involved in multiple charitable activities, including personal contributions for nonprofits in health, education, and entrepreneurship. Srini, through his foundation www.Madala.org founded the Center for Community