Insurance Times Awards 2022: Horwich Farrelly’s fraud detection tech ‘saves a huge amount of time and improves results’

Explain briefly about your entry in the Excellence in Technology - Fraud Claims category. 

We wanted to enter our Holt proposition into this category quite simply because our clients tell us that it is excellent, innovative and effective technology.

Our clients told us they had a real need to make claims triage and potential fraud identification more efficient. They needed to deploy their own bespoke fraud identification strategies consistently and effectively across all insurance fraud types and all UK and Ireland jurisdictions.

We listened to our customers, understood their problems and brainstormed how to solve them.

Through that collaborative approach, we identified that our lawyer devised strategies could be built into an easy to use artificial intelligence (AI) solution, reducing fraud identification processing time from 30 minutes to mere seconds.

What do you think makes your entry stand out or different from your competition?

Holt stands out as a fully customisable solution. Every client can plug in their own counter fraud strategies - this drives huge efficiencies and triage consistency, as well as automates repudiations and lawyer nominations depending on the AI-generated outcome.

Holt saves a huge amount of time and improves results. Full market pre-litigation data insights help us continually adjust strategies to maximise fraud detection and minimise claims spend.

What would winning this award mean to you and your firm?

Winning would be such a great acknowledgement of the Holt team for their hard work, expertise and diligence in creating such a fantastic client solution.