Markerstudy extends fraud partnership

CRIF Decision Solutions (CRIF) has enhanced the fraud prevention platform used by the Markerstudy Group to provide a consolidated view of risk for policy applications or claims.

CRIF collaborated with Synectics Solutions and their SIRA solution, which operates as an integrated fraud prevention and detection platform, streamlining processes by eliminating the need to refer to multiple data sources or points of referral.

Gary Humphreys, group underwriting director at Markerstudy explains: “As an industry we have made significant progress in detecting fraud at the point of claim and counter fraud strategies are now additionally, increasingly focused on preventing fraud at policy application.

"At Markerstudy, our success is underpinned by our underwriting strategy to identify and apply special risk factors to the customer’s advantage.

"We recognised that applying this proactive approach to fraud prevention would not only reduce cost and reinforce our underwriting position but protect our honest customers from the impact of insurance fraud."

Roger Walsh, associate director, CRIF Decision Solutions, said: “CRIF will continue to innovate to deliver against the needs of its clients and the insurance industry.

"Our collaboration with Synectics has proved incredibly powerful for Markerstudy. CRIF’s ability to overlay industry claims data with other syndicated data sources via Synectics SIRA solution signifies a real step forward in fraud prevention opportunities for insurers.”