CACHE MotorPlus combines information on motor and personal injury claims related to road traffic accidents (RTAs) to improve the assessment of claims propensity, risk analysis and detection of fraudulent claims by third-party drivers in the very early claims stage.
“Integrated information systems, and quick and easy access to data, have become essential in the balancing of business risks and opportunities and in the optimisation of business processes, particularly where opportunistic and organised fraud is rising”, stated Roger Walsh, Associate Director of CRIF Decision Solutions Ltd.
The CACHE suite of products has been offering benefits to insurance companies for several years in the identification of misrepresented claims histories, multiple and possible fraudulent claims using information from CUE (Claims and Underwriting Exchange Register). The new CACHE MotorPlus service brings together information on motor insurance and PI claims to give added benefits in fraud detection and claims management. As with other CACHE services, MotorPlus can be used to verify the claims history of the individuals involved in an RTA and identify any potential fraud. Where MotorPlus is different is that it was designed for fleet companies where the driver is not the policy holder and a company could be the policy holder. The result is an improved and predictive risk assessment, more efficient claims management, and appropriate allocation of resources and personnel, bringing cost savings to the overall process.
CRIF offers UK insurance companies qualified support in insurance risk and fraud prevention management at every stage of the process, from quotation and underwriting to claims and fraud detection.
