Winner: QBE/Synectics Solutions/Cabinet Office
- Covéa Insurance
- Pen Underwriting
- RSA Motability
- Zurich Insurance – Catastrophe Personal Injury Team
A unique collaboration to combat fraud in the insurance industry earned QBE, Synectics Solutions, and the Cabinet Office the thoroughly deserved title of winner of Claims Initiative of the Year – Insurer award.
With more than 500,000 fraud cases detected by the Association of British Insurers each year, the National Fraud Initiative, delivered by Synectics for the Cabinet Office has 500 local authorities and public sector organisations working together to improve fraud prevention capabilities.
QBE’s primary objective was to increase and enhance its automated fraud detection capacity using new methods and data sources, including Home Office immigration data, social housing waiting lists, and housing benefit claim data,all readily available as part of the wealth of intelligence.
One of these new methods included a plan with Synectics to develop a solution that could be used in a live environment to enhance fraud protection.
A proof of concept study showed a significant uplift in the identification of flagged potential fraudulent claims, suggesting this could have a staggering impact if adopted by the wider insurance industry.
Winning this award is a tremendous accolade for all of the hard work that my team has put into making this initiative happen. Insurance fraud remains a major issue in our industry, but through collaboration and sharing of data, we are able to better detect and combat fraudulent claims. Working with Synectics and the Cabinet Office has already had a positive impact on our fraud identification and claims handling, and we look forward to continuing to work together to fight these types of crimes.Jonathan Radford, SIU claims manager, QBE
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