Tradex is the newest insurer to sign up for Advances, which combines Conversant Data’s claims fraud detection and prevention expertise with CSC’s Fraud Evaluator software tool. Within one year of its launch, Advances has already saved more than £1 million for its insurance customers by identifying fraudulent claims that ordinarily would have been paid.
Tradex will use Advances within its motor claims process for data matching, validation and full-case investigation.
“We provide insurance for all sectors of the motor trade,†said John Harvey, Tradex Insurance chief operating officer. “However, to remain competitive, it is important that we combat fraud at all levels. I see Advances playing a crucial role in achieving this and I am encouraged by the results Advances is delivering for its existing customers.â€
“We are delighted to have Tradex as a new Advances customer,†said Mark Jones, Conversant Data managing director. “This vote of confidence in our service shows that we are delivering real value in minimising the detrimental effects of fraud on a company’s bottom line.â€
“Tradex’s decision to select Advances underlines the great results that this service has delivered to our existing customers,†said John Maitz, CSC’s vice president of general insurance in Europe, the Middle East and Africa. “Tradex is a fast growing company with a wide portfolio of motor trade business – including offering coverage in some of the more high risk areas. Its selection of Advances – a service built on years of industry experience -- shows that Advances has the flexibility and scalability to support all manner of insurance companies’ fraud strategies.â€
