Resources & White Papers
Banks & insurers in the digital era
Nowadays banks have reduced their branch networks both as a cost cutting exercise and because many customers no longer wanted to physically visit the bank to carry out their banking. How can banks and insurers effectively partner in the digital era?
General Data Protection Regulation & Cyber Risk
General Data Protection Regulation, a year on. The GDPR was generated to give people control of their personal data and create a high, uniform level of data protection across the EU that's ‘fit for today’s digital age’. What about compliance, data protection and risks?
SURVEY: SMEs & Cyber Risk – A ticking time bomb?
Why are SMEs and their insurance providers and brokers not assessing their propensity to cyber risk?
The recent SME Insurance Risk Survey commissioned by CRIF Decision Solutions in partnership with POST has revealed some surprising findings. The survey was completed by composite and specialist insurers, MGAs and brokers, operating in the SME sector. Read more
What are the 5 most common types of identity theft?
Identity fraud continues to rise in the UK, hitting an all-time high of 174,523 cases in 2017. According to the latest report by fraud prevention service Cifas, 95% of these cases involved the impersonation of an innocent victim and 8 out of 10 fraudulent applications were made online. Research by virtual private network comparison site Top10VPN.com revealed that fraudsters operating on the dark web could buy a person's entire identity for just £820.
How can organisations minimise their exposure to warranty fraud?
Fraudulent warranty claims can account for up to 15% of overall warranty costs and can cause businesses to lose up to 5% of their annual revenue. What are the top 5 warranty management vulnerabilities?
The evolving landscape of cyber risk
Cyber risk continues to evolve at speed, but as a relatively new risk there is very little data available to build defences against emerging trends (intellectual property, IoT). What are some of the new emerging threats to UK businesses?
SURVEY: Commercial insurance fraud, it’s time to catch up
Closing the gap between the commercial and personal lines insurance sectors in the battle against fraud. The results of the recent Commercial Insurance Fraud Survey commissioned by CRIF Decision Solutions in partnership with POST have made interesting reading. What can be done now and where are the future priorities?
The evolution of Healthcare Insurance Fraud
The UK private healthcare market is expected to grow by 2.8% per annum to 2025 according to Persistence Market Research. This growth opportunity is attracting new healthcare insurance entrants to the market. Learn more about recent fraud trends and cases.
Countering Fraud in the New ‘Micro-Duration’ Insurance Space
Insurers have to embrace new business models and enhance digital user experience to approach new generations and Millennials.
Support as the GDPR Environment Unfolds
Significant concerns about the new regulation are being raised in the insurance industry and organisations have yet to begin to properly prepare for the new regulatory environment.
Of the 17 million dogs and cats owned by households in the UK, only 3.9 million are covered by pet insurance
This low penetration represents significant opportunities within the pet insurance sector which grew by 11.8% in 2014 (according to Timetric) driven by increases in the cost of veterinary treatment and improved public awareness of the benefits of cover. The ABI reported that in 2016 insurers paid out a record £706 million in pet insurance claims– the equivalent of over £1.8 million and 2,500 claims every day.
The Fourth Anti-Money Laundering Directive
The integrity of the legal and financial services marketplace depends heavily on the perception that they function within a framework of high legal, professional and ethical standards. Law firms and insurers build their businesses around their reputation for integrity. Learn more about how to conduct appropriate customer due diligence.
NIHL claims increased by 189% between 2011 and 2014
The cost for the industry was estimated at around £360M. It is widely accepted that the increased volume of NIHL claims is a result of the shift in focus of claims management companies and professionals who are looking to replace revenue lost from pursuing RTA whiplash claims following regulatory change The ABI and the industry are seeking regulatory change to improve this challenging situation. But in the meantime, what can insurers do to detect fraudulent NHIL claims?
Driverless Cars: Embracing Change
Cars are set to become increasingly connected and technology is steadily advancing from semi-autonomous vehicles to fully autonomous or driverless vehicles. What responsibilities do the driver and the vehicle manufacturer have in the event of an accident? How is liability determined if the driver has the ability to over-ride the computer? What if the autonomous car has an accident with a conventional car?
The future of risk scoring
The ability to integrate and apply this intelligence as necessary will differentiate insurers within their chosen markets going forward, supporting their drive to build profitable books of business and deliver tailored quotes and service to their customers.
What are the top 4 claims fraud indicators?
To maximise the detection capabilities of fraud indicators, insurers can enrich the data sources using their internal data with external data sources. There are numerous data sources available to integrate with the solution, both open source and via industry bodies and commercial data providers. These can cover, but are not limited to, insurance customer history, socio-demographic, geographic, vehicle, and credit information.
No items to be displayed.