News & Press Releases
Press Release
Countrywide Accident Assistance step up the fight against fraudulent claims.
CAA, the UK’s leading outsourcing claims solution adds Net-foil to its fraud fighting arsenal.
The ABI (Association of British Insurers) figures show that somewhere between 15% and 35% of all claims are either fraudulent in their entirety (staged / contrived accidents, paper based or completely fictitious) or inflated to benefit the claimant. The average cost of a 2 vehicle RTA with PI attached is estimated to cost the insurer somewhere in the region of £15,000 per claim.
As of 19th January, CAA will have access to the unique Netfoil database which will assist them in identifying fraud when managing any claim on behalf of their clients.
Developed over five years, Netfoil is one of the largest linked relational databases in Europe, containing detailed records of over 40 million claims. Using advanced data-mining techniques Netfoil enables the user to identify manage and evidence any fraudulent activity in relation to a relevant claim.
The interrogation of Netfoil will enhance the flagging of high risk individuals / claims and vehicles at the point of inception. This will allow the claims handler to then decide on the format and direction that any subsequent enquiries will take.
