The service enables you to contribute to and search the Home database in line with the principles of reciprocity set out by MIB (Motor Insurers' Bureau), who is responsible for the management of the Claims and Underwriting Exchange Register (CUE Search) on behalf of insurers in the United Kingdom. Database enquiries can be made on both an ad-hoc basis and at the time of claim record contribution, making the system adaptable to any business process requirement.
CACHE, the insurance bureau suite of services, helps to assess risk in order to confidently provide policy premium quotations and can automatically detect cases where further investigation is required at the underwriting and claims stages of the insurance lifecycle. The CACHE screening process can be enriched with a number of additional datasets (linked addresses, financial data, ID verification and vehicle data).
- Ability to increase premium revenue and profitability by charging rates linked to the true risk involved.
- Improved quality of the business portfolio and reduced exposure by accurately identifying risks.
- Reduction in the manual effort and costs involved in confirming at the underwriting stage whether an individual has consistently disclosed his claims history and can therefore benefit from a “no claims” discount.
- Reduction in claims expenses and faster processing through more efficient claims handling.
- Control of overall costs by identifying multiple and potentially fraudulent claims.
CACHE Home Underwriting
The CACHE Home Underwriting service is designed to work at points of sale (POS), providing the ability to automatically compare the number of claims reported by a subject against the number held in the CUE Home database.
CACHE Home Underwriting shows all the matches found together with discrepancy indicators, streamlining the acceptance process needed to evaluate, refer or decline an application at point of sale. By automating processes to check claims disclosure inconsistencies declared at policy inception, the service heavily reduces operational costs, maximises internal recourses and effectively helps insurers prevent and fight potential fraud at a very early stage.
Thanks to the complete and easy-to-use output, integration with any in-house underwriting system is made easy and quick. Those users that wish to access the web browser solution will benefit from a user-friendly output based on a traffic light indicator.
Products and Services
The CACHE PI service enables insurers to search the Claims and Underwriting Exchange Register Personal Injuries database (CUE Search) and obtain a full report of the personal injury claims history of a given individual. It holds over 12.5 million personal injury insurance claims.
CACHE Motor service enables isurers to search the the Claims and Underwriting Exchange Register Motor database (CUE Search) and provides a comprehensive report of the motor claims history of a given individual. It holds over 11 million motor injury insurance claims.
CACHE Pet gives insurers a centralised platform where they can share and interrogate industry pet claims data and related industry data bases to support the claims investigation process and identify claim anomalies, serial claimants, and emerging fraud trends.