The role of a counter-fraud specialist is challenging. With the ABI stating Insurance Fraud claims uncovered to the value of £1.3billion in 2013 and a further estimated £800,000 of claims not detected (Annual Fraud Indicator states bogus or inflated claims costing £2.1bn), your insurance company will be looking for more robust ways to tackle fraud.
You can use our accurate mapping data to build a single customer view, to help you highlight bogus or invalid addresses. By combining your own data with ours, you can visually link individuals or organisations to quickly see patterns that aren't apparent in spreadsheets and tables.
Better detection, higher prosecution
You can identify patterns by exploring your data by geographical area, time, frequency, intensity or associated links. This helps you detect fraud at every stage from application through to claims. With accurate location data you'll see great benefits to your business. You can:
- View trends and patterns across many forms of data
- Reduce potentially fraudulent applications by matching addresses previously used for claims
- Validate customer information against local authority alias addresses
- Present clear cases of evidence to the police for improved prosecution
- Reduce the time to evaluate, settle and repudiate claims and fraudulent data
- Improve loss ratio and a more competitive service through quicker claims handling
Improve business performance
Ordnance Survey data helps us to compile irrefutable evidence to repudiate fraudulent claims.John Baldock, Director of Investigation Services, Direct Group Ltd
Counter-Fraud Managers are advocates of using technology to identify and prevent fraud. If you're a Counter-Fraud Manager you'll be used to dealing with a wealth of information, often from many different systems. You'll need to combine accurate information to detect fraud and make quicker decisions on whether to investigate further.
Our accurate geographic data such as AddressBase and OS MasterMap can help you bring these sources together to identify where fraud is a threat to your business. And because all of this information is in one place, you can act quickly, building up comprehensive cases of evidence to present to the police, improving your loss ratio.
Contact us for more information.