BGL launches new anti-fraud solution

BGL Group has launched a new anti-fraud solution that validates customer data across all channels including aggregation.

The ‘point of quote’ solution works by the BGL Data Hub accessing information from a range of sources and enabling the group to identify the most accurate risk profile for every customer.

Working in partnership with data experts such as Callcredit, the extra customer insight will deliver more accurate pricing and help to tackle online fraud which, according to recent ABI research, more than half of motorists would not rule out committing.

The new initiative builds on BGL’s existing anti-fraud capability which includes preventative measures such as card verification and foreign card blocking. These measures, in addition to post sale Claims and Underwriting Exchange (CUE) and no claims discount checking, have already demonstrably reduced insurers’ loss ratios.

BGL Group chief operating officer Matthew Donaldson said: “The information that our new Data Hub will deliver, coupled with the anti-fraud insight we already have on our 2.4 million customers, will ensure that we provide a thoroughly comprehensive view of customers to our insurer partners.

“Our new solution has the ability to verify consumer information across multiple data sources. As fraudsters are constantly finding new ways to target the insurance industry, our new anti-fraud initiative is the start of a collaborative approach to combat this through ongoing joint innovation with our insurers.”

BGL Group will now work with its insurer partners to tailor the solution according to individual data and anti-fraud requirements.