The first pet insurance claims database
providing a holistic view of the claimant and their claims history
CRIF for the Pet insurance industry
The pet insurance market continues to represent significant growth opportunities for insurers. The pet population in the UK stands at around 57 miillion with an estimated 40% of households owning a pet. According to figures from the ABI only 30% of the 8.5 million dog owners and just 16% of the 7.5 million cat owners are thought to have pet insurance and these insurance statistics do not take into account smaller furry animals such as rabbits or more exotic pets such as snakes.
The chance for agile insurers to increase their market share is undeniable. But there are some challenges to overcome in order to achieve profitable growth.
CRIF has developed the industry’s first pet insurance claims database to support UK insurers facing increasing fraud risks and rising claim costs.
CACHE Pet enables insurers to share pet insurance claims data to help detect and prevent pet insurance claims fraud, reduce claim lifecycle by fast tracking genuine claimants, reduce costs and improve customer satisfaction.
CRIF envisions additional data sources being made available via CACHE Pet in the future, these include a full claims profile of the claimant across multiple business lines, pet micro-chip databases and business bureau information related to veterinary practices.
This allows Pet insurers to have a holistic view of the pet insurance claim and the parties involved, supporting the genuine customer, vet and the insurer.
What can insurers do to detect and prevent pet insurance claims fraud?
London, November 5 and 6, 2018
CRIF at the Insurance Innovators Summit 2018
What are the disruptive forces in the UK insurance industry? What are the most innovative aspects of the insurance ecosystem? How is it possible to leverage information to structure new insurance and customer-centric models? CRIF attended the Insurance Innovators Summit 2018 to hear interesting debates and speeches delivered by a panel of industry experts and learn more about what’s really happening in the insurance industry today.
November 2, 2018
CRIF at the Broker Expo 2018
CRIF exhibited at the Broker Expo, held in Coventry on November 1. It was an opportunity to meet over 900 insurance brokers, cultivate important business relationships with new potential partners and present new products and services, in particular for cyber risk management and data enrichment.
QEII Centre, London, 5-6 November 2018
Insurance Innovators Summit 2018
CRIF will attend the Insurance Innovators Summit, the Europe’s leading general insurance conference.
Coventry, November 1, 2018
Broker Expo 2018
CRIF will exhibit at the Broker Expo, which will take place on November 1 at Ricoh Arena, Coventry. Come to our stand #50 to know more about our new products and services.