Sterling Insurance Company Limited will use Advances for data matching, validation and full case investigation within its Household division, which serves the household insurance needs of mid and high net worth individuals. Advances, which combines Conversant Dataâs claims fraud detection and prevention expertise with CSCâs Fraud Evaluator software, has saved insurance customers, since the service was launched in September 2004, more than Â£4 million by identifying fraudulent claims that ordinarily would have been paid.
âIn order to provide the best service to our customers, whilst remaining ahead of the game, itâs imperative that we combat fraud at all levels,â said Garry Simmons, associate director, HSterling Insurance Company Limited. âAdvances will play an important part in our overall fraud strategy.â
âWe are delighted to have Sterling as a new Advances customer,â said Mark Jones, Conversant Data managing director. âAdvances is being used by a number of insurers in the UK market. The addition of Sterling is a further boost to our credentials as an important partner for insurers seeking to gain the edge when it comes to tackling the growing numbers of fraudulent claims.â
âDespite best efforts, fraud remains a fast growing crime in the UK, with many insurers suffering at the hands of the fraudsters,â added John Maitz, CSCâs vice president of general insurance in Europe, the Middle East and Africa. âHowever, Advances, which is already achieving outstanding results for its growing client base of insurers, is rapidly finding a place for itself within the armoury that insurers must have at hand in order to manage this issue.â