Honors Projects
Abstract
Artificial Intelligence (AI) is being used in accounting and the insurance industry to assist with auditing and fraud detection. The Big Four public accounting firms have invested heavily in AI implementation efforts. Across these firms, AI has been used to reallocate auditors’ time from mundane tasks to more complex tasks that require human judgement. Within the insurance industry, machine learning, deep learning, and natural language processing, among other AI tools, have proven helpful in fraud detection efforts. While the positive impacts of AI usage are clear, concerns surrounding the replacement of human jobs, a lack of transparency in auditing, heavy technology expenses, and negative environmental impacts are present. This project synthesizes research regarding AI use by the Big Four and insurance companies to address these concerns and provide recommendations as to how internal auditors in the insurance industry can effectively leverage AI for fraud detection.
Department
Accounting and Management Information Systems
Major
Accounting
Second Major
Business Analytics and Intelligence
First Advisor
Dr Andy Garcia
First Advisor Department
Accounting and Management Information Systems
Second Advisor
Dr Christopher Rump
Second Advisor Department
Applied Statistics and Operations Research
Third Advisor
Michael Good
Third Advisor Department
Accounting and Management Information Systems
Publication Date
Winter 12-8-2025
Repository Citation
Davis, Maria, "Artificial Intelligence in Insurance Fraud Detection: Applications and Implications for Internal Audit" (2025). Honors Projects. 1085.
https://scholarworks.bgsu.edu/honorsprojects/1085
Included in
Accounting Commons, Artificial Intelligence and Robotics Commons, Databases and Information Systems Commons, Insurance Commons