RiskShield, a risk assessment and fraud prevention solution, goes live at Zurich in Mexico and Zurich signs agreement to expand RiskShield in several countries around the globe.
INFORM GmbH and arvato infoscore, both global companies specializing in software, credit information and fraud detection using intelligent process optimization logic to improve business productivity, announces that RiskShield has been selected by Zurich to serve as a fraud detection solution for their counter fraud efforts across their global network of subsidiaries in emerging countries.
As part of the Zurich’s claims counter fraud strategy, the company chose RiskShield as an “out-of-the-box” fraud detection solution that combines best practice (preconfigured set of fraud detection rules and patterns as well as interface capabilities) with a standard and repeatable rollout plan. RiskShield is an extremely flexible tool when it comes to achieving Zurich’s challenging timelines to implement in multiple countries across multiple continents. INFORM specifically fine-tuned the fraud detection solution to perfectly meet Zurich’s global criteria but also considered adoptions of the solution to address the specific local needs of each country.
“We are impressed with RiskShield’s strong capabilities and delivery as preconfigured out-of-the-box solution for a reasonable cost. Our return on investment seems to be achievable within less than one year from go-live date,”says Roland Wörner, Global Head of Counter-Fraud at Zurich’s General Insurance segment.
“Mexico was our first country to go live with RiskShield. The kick-off of the project was held in February 2013 and in October the local counter fraud team in Mexico already announced that RiskShield was fully operational and delivering its first results. We support Zurich’s ambitious roll out plan to implement RiskShield, starting in Latin America followed by business units in Europe, Asia Pacific and South Africa. While the implementation timeline is challenging, we believe that leveraging the experiences made in implementing RiskShield in Mexico, our joint effort with arvato infoscore and our close co-operation with Zurich will enable us to exceed expectations,” says Dr. Andreas Meyer, Director Risk & Fraud Division at INFORM.
“The implementation in Mexico was a great team effort. It was really intense and the results so far are promising. RiskShield gives our people in the field additional tools to protect honest customers and gets us one step closer to getting every claim right," says Martin Casazza, Head of Operational Improvement and Head of Counter- Fraud for Claims in Latin America at Zurich.