Insurance Times Awards 2024: DAC Beachcroft helps develop industry-leading fraud counter-measures

1. Why did you put yourselves forward for the Excellence in Fraud Mitigation – Service Provider category?

Despite exploding volumes of claims, motorcycle courier fraud had, until relatively recently, remained inconspicuous unless you were working in London-based motor fraud.

Our investigative team, drawn from experts across our legal, intelligence and data functions, unearthed new tradecraft being deployed by fraudsters and shared this knowledge with the wider industry.

Team members then worked hard to develop, test and refine what became highly effective counter-strategies, which they again shared with the industry, putting particular focus on the detection and mitigation of shallow-faked ID and vehicle ownership documents.

2. What do you think makes your entry stand out and why should you win the award?

Tackling this type of insurance fraud required genuinely innovative new thinking across the full range of disciplines – intelligence, data science and analytics and law, as well as clear industry co-ordination.

The resulting multi-disciplinary effort produced a force-multiplier that halted a material fraud risk that had the clear potential to develop to an epidemic level.

Beyond the demonstrable savings and glowing testimony from clients, the project shows the true power that collective drive and imagination can bring to bear on malevolent fraud actors.

Our concerted efforts to collaborate, with the prompt sharing of intelligence and counter-strategies with a wide range of partners, has been to the industry’s collective benefit.

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

As well as being welcome and just reward for the investigative team, it would shine a spotlight on the sheer extent of motorcycle courier fraud, helping to spread awareness of the problem as it permeates out of London into other regions of the UK.