Groupama invest in new software to counter insurance fraud
Insurance giant Groupama have revealed details of a new software called ‘Hunter’, which they hope will assist them in combating fraudulent activity in the future.
It is reported that Groupama will use the new software for all of their motor and fleet insurance applications, before eventually making the product available to household and commercial insurance firms.
Hunter will operate as a kind of database, relying on data submitted by other insurers and financial institutions to maintain an up-to-date record of suspicious behaviour. The software could be of major benefit to many UK businesses, as it flags such information instantly and allows the company to reject policy arrangements before any fraud has been committed.
Stephen Teeling, counter-fraud manager for Groupama, has stated his belief that the software brings with it other benefits as well, saying:
“The ‘front end’ solution offered by Hunter is key to reducing incidences of fraud and managing the costs associated with combating fraudulent activity. It also ensures the claims service we provide to genuine policyholders is as expedient as possible. The principle of data sharing to help fight the battle against fraud is one Groupama supports wholeheartedly.”
10/03/2009 15:52:00
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