Advances, which was launched in September 2004, combines Conversant Dataâs claims fraud detection and prevention expertise with CSCâs Fraud Evaluator, a comprehensive software tool for early detection of potential claims fraud, to deliver in-depth analysis and scoring of claims data. Link will use Advances within its motor claims process for data matching, validation and full-case investigation.
"Advances is one component of our anti-fraud strategy and blends a best-of-breed data solution from CSC with industry-leading skills and expertise offered by CDL," said Trevor Webb, Linkâs Claims Director. "This enables us to contain our claims costs and still maintain the high quality of service provided by our claims team, for which weâre renowned. The ability for insurers to demonstrate a strong lead against fraud is critical, and our relationship with CSC and CDL allows us to do just this."
The Association of British Insurers estimates that around Â£1 billion is lost annually to fraudulent claims in personal lines alone and that at least 10 percent of claims have some fraudulent aspect to them. Because Advances can be deployed at different service levels and is fully scaleable, even the smallest insurer can cost effectively combat the growing incidence of insurance fraud and achieve significant savings.
"The huge interest in Advances proves the business case for this combined solution," said Mark Jones, CDL managing director. "Weâre delighted to welcome Link to our customer base."
âInsurers need to be particularly vigilant to avoid paying out on fraudulent claims,â added John Maitz, CSC's vice president and head of general insurance for Europe, the Middle East and Africa. "Advances enables insurers to combat the growing incidence of insurance fraud for a very low cost and with an immediate result from day one."
Advances is available now for motor and household claims, with travel and other classes of business to follow.