Members of Insurance Database Services Lts (ISDL) are now loading claims data which will enable the system to be searched to validate personal injury claims history of individuals and help identify cases that need further investigation.
The database has been loaded with historic claims, providing users with immediate benefit in the detection of fraud.
CACHE PI is offered as a web based service providing the users with the ability to load, enquire and amend claims in real-time. The facility to batch the submission of claims and enquiries, using the insurance industry standard XML connectivity, is also offered. In addition, the service allows the insurers to electronically submit CRU 1 details to the Compensation Recovery Unit (CRU). This feature will substantially decrease resubmission to the CRU, which currently run at 15% across the industry - which offers immediate cost savings.
Major insurers, including Axa, Zurich, Cooperative Insurance Services, Allianz Cornhill, Royal Sun Alliance, Legal & General, Allianz NI and Sabre are either already using or have committed to use CACHE PI, and CRIF are confident that many others will follow.
Fabrizio Frabroni, CRIF's International Director, states "The creeping compensation culture means personal injury claims are on the increase. With CACHE PI we believe users of our database will be in a strong position to manage these increases in claims volumes and costs, helping to differentiate between genuine and fraudulent claims."
He continued "We developed many of the functionalities of the service in partnership with the insurance industry, whose input was invaluable. We further added some features based on our own lengthy experience in developing and offering web-based services. The result, we believe, is an innovative service that fully meets the needs of the insurance industry."
