Point of Claim
Assessing risk in order to reduce exposure by accurately identifying risks and automatically detect cases where further investigation is required at the claim stages of the insurance lifecycle.
A dynamic fraud detection approach
Reducing fraud losses is a high priority for all life insurers, with the market recognising they must contain fraud as a ‘managed risk’. There is no room for underestimating the fraudsters targeting the industry, who continually evolve their methodologies in direct response to insurers’ counter fraud strategies. A dynamic counter fraud model is essential for insurers to protect their honest customers and bottom line.
Total lifecycle solution
CRIF develops services to validate and monitor the entire lifecycle of business relationships with individual IFAs, supporting confidence, transparency and efficiency in relation to commission credit and debt.
The data sharing system help mitigate potential risks from unethical IFAs who may systematically target multiple insurers in order to commit commission fraud and IFAs who may repeatedly require extensive and long-term commission credit due to financial instability.
This in turn protects insurers from reputation risk, assists them in realising their TCF objectives and supports mutually beneficial relationships with their IFA partners.