Insurer appoints Absolute to provide fraud management
Equity has signed a two-yea deal with Absolute Fraud Management to provide its fraud management solution based on cognitive interviewing.
In a statement absolute said the appointment follows a successful six month pilot scheme.
Absolute will handle motor theft claims for Equity, applying delegated authority protocols to ensure swift resolution of genuine claims. The process will be integrated within the company’s in-house claims management and business processes.
Tony Jones, Senior Project Manager at Equity said: “Absolute caters for evolving fraud trends and the changing dynamics of our business. We benefit from detailed management information and complete transparency, supporting a partnership approach to combating fraud.”
Stuart Dennis, Chairman of Absolute added: “During the pilot phase, Absolute out-performed the market with enhanced productivity and augmented techniques based on recent R&D. The result exceeded Equity’s fraud detection benchmark by 100 percent.”
Working to a strict code of conduct and operational standards which support FSA compliance and TCF guidelines, Absolute identifies and fast-tracks honest policyholder claims whilst exceeding Equity’s fraud detection benchmark. Additionally, claims falling outside policy terms and conditions are routinely recognised and repudiated.
