Insurance Nottingham

Insurance, Nottingham

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Ageas fight fraud.

A statement from Adam Clarke Underwriting Director Ageas Insurance

"I am delighted to announce that Ageas has signed up to the Syndicated Intelligence for Risk Avoidance (SIRA) anti-fraud database from Synectics Solutions to complement our fraud prevention and detection strategy for both underwriting and claims management. 

At a time when application fraud is on the rise, adding approximately £50 to customer premiums, we are deploying SIRA at the underwriting stage of the customer journey, allowing us to check information provided within a new business proposal against known fraud data recorded by other financial organisations, including insurers, banks and building societies.

SIRA also allows the Claims team to identify third party claimants who have previously been involved in fraudulent activity with any of the other SIRA members through syndicated data sharing.

Brokers will be notified on an individual basis should SIRA highlight fraudulent activity where additional information is required.

SIRA will initially be used for Motor customers, with plans to launch to Household and Travel customers later this year. The intelligence gained from SIRA will be used to flag potential risk factors which we can then investigate and, where appropriate, take action.

SIRA will become an important part of our armoury providing significant protection against those who intentionally attempt to commit fraud against Ageas at either application or claim stage. SIRA supports the ongoing Ageas objectives of blocking fraud, validating risk data and rewarding honest customers.

I strongly believe that it is vital for insurance and financial services companies to work more closely to prevent fraud. We are very encouraged by the positive attitude of our brokers and are supportive of the actions that you are also taking to defeat fraud.

At Ageas, we take a very enthusiastic approach to tackling fraud, utilising tools to detect and prevent fraud both at the beginning of the customer journey and at claims stage. This has recently been recognised by Ageas being shortlisted in both the 'Counter Fraud Initiative of the Year – Personal lines' and the 'Combating Fraud - Underwriting Initiative of the Year' categories at this year's Post Insurance Fraud Awards. The winners will be announced on 3rd October"



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