The Insurance Fraud Bureau (IFB) has entered into a new five-year contract with Detica, for the implementation of the latest version of its Detica NetReveal counter-fraud software through a managed service arrangement.
This follows a market review and tender exercise, to identify software to meet current needs, and support development, of the IFB model and services, in line with customer requirements and emerging risks.
One benefit to be delivered by the software, which will have features specific to the IFB, is the facility to provide a web portal for customers to interact in an automated manner with the IFB. Using NetReveal, the IFB system will risk-score individuals, claims, vehicles, companies and addresses and the portal will enable customers to carry out automated risk assessments, and or gather information to support an investigation. Submitted information will be scored according to risk levels and using workflow automatically form part of an IFB analyst’s work load if more investigation is required, or the information forms part of a wider investigation.
This will allow the IFB to automate the identification of high-risk networks and create work queues for IFB analysts to research and rapidly disseminate valuable intelligence to customers. The IFB has access to 110 million consolidated industry records, plans to increase the pool of relevant data and intelligence and is already reviewing additional data sets. The software aids the IFB’s ability to streamline and handle more detailed cases, and expand its counter-fraud services to customers.
Glen Marr, Director, IFB said: “The selection of the new enhanced Detica NetReveal solution with additional functionality unique to the IFB, reinforces our commitment to provision of optimum customer service. This state of the art technology acts as a very powerful enabler to allow us to deliver increasing value to customers both with existing services and planned future initiatives under consideration. Customers will be advised as the new web portal facility comes on line and can operate under business as usual protocols whilst the enhanced IT solution is embedded. Implementation of the new software is scheduled for quarter one 2011”.
Imam Hoque, Founder of Detica NetReveal and the company’s Chief Technology Officer said: “We are delighted to be supporting the IFB in this next phase of its development and we are committed to ensuring the IFB can harness innovative and evolving technology through Detica NetReveal to support its strategic goals.”
About the Insurance Fraud Bureau
The IFB launched on July 26, 2006 and has been formed to provide what the bureau calls a tactical solution for the detection and prevention of organised, cross-industry fraud, supporting the wider Association of British Insurers industry fraud strategy. The IFB co-ordinates the industry response to the identification of criminal fraud networks and works with police and law enforcement agencies.
