Pet insurance fraud management
The first suite of counter fraud services in the UK: from the pet claims database to AI-driven risk assessment and fraud detection tools.
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 million 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 and Sherlock Detection enable insurers to share pet insurance claims data to help detect and prevent pet insurance claims fraud, reduce claim lifecycle by fast tracking genuine claimants, and automatically identify suspicious cases for further investigation as well as reject fraudulent claims before they are paid out.
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?
Discover the best solutions for your needs:
Pet Claims Insurance Bureau
The first pet insurance claims database providing a holistic view of the claimant and their claims history.
Pet Insurance Fraud Detection
AI-driven risk assessment solution to empower your anti-fraud strategies by automating fraud detection and improving claims investigations.
London, January 14, 2020
CRIF Launches Fraud Detection Tool for Pet Insurers
CRIF Decision Solutions has launched Sherlock Detection, an automated fraud detection tool which rapidly risk assesses every claim, to help pet insurers prevent, manage and detect fraud swiftly and efficiently.
Milan, November 29, 2019
CRIF receives official recognition from the British Government at the UK-Italy Business Boost Awards
During the 13th edition of the UK-Italy Business Boost Awards organised by the Department for International Trade in Italy, held at the Italian Stock Exchange in Milan on November 28, CRIF received official recognition from the British Government, given to Italian companies that invest in the UK and British companies that invest in and export to Italy.
London, Association of British Insurers, UK Head Office, 29 January 2020
CRIF at the Civil Justice Reform conference
With the the Civil Liability Act, the announcement of the new Personal Injury Discount Rate in August 2019 and the imminent changes to the compensation regime for soft tissue injuries coming into place in April 2020, this event provides an overview of the reform process and of the challenges ahead. Learn more
QEII Centre, London, 13 – 14 November 2019
CRIF at Insurance Innovators Summit 2019
CRIF will attend the Insurance Innovators Summit, the Europe’s leading general insurance conference. The very best of the insurance industry comes together for two intense days to challenge the world of insurance.