Bennetts announces anti-fraud technology

Motorbike insurance specialist Bennetts has implemented new ‘point of quote’ technology to validate customer data in a bid to weed out fraud.

The new data hub, developed by Bennett’s parent company BGL, accesses consumer data from a range of sources, including credit data and electoral roll information, to generate accurate risk profiles for the company’s insurer partners.

Bennetts associate director for commercial Matt Long said: “Insurance fraud is not as prevalent in the bike market as it is in motor. However, it remains just as vital to be on the front foot when it comes to validating customer data. This will help to deliver multiple benefits both for customers and our insurer partners. Not only will this new solution drive better risk profiles for our panel, helping to reduce loss ratios, it also ensures that honest and genuine customers are receiving the best possible premiums based on their own individual information.”

The new technology will also give Bennetts the opportunity to develop its competitiveness in parts of the market where it has historically not been as strong.

“The roll-out of the Data Hub for Bennetts is a real first for the bike market. In addition to the anti-fraud and customer benefits, it will also allow us to extend our footprint in areas of the market where we have traditionally been less active. We are looking forward to developing the solution in conjunction with our insurer partners, to extract as much value as possible for all parties.”