Motor insurer becomes IFB member

Marshmallow has become an Insurance Fraud Bureau (IFB) member as it looks to build on its counter-fraud strategy.

The move will see the motor insurer use IFB’s insights and technology to analyse new ways criminals, scammers and opportunists work to defraud companies and consumers.

The firm will also look to collaborate further with the wider industry to clamp down on fraud as it looks to continue providing affordable prices.

And as part of the move, Marshmallow will join the Insurance Fraud Register.

Ursula Jallow, director at the IFB, said: “We’re really pleased that Marshmallow has teamed up with us.

”Marshmallow will see their counter-fraud defences become even stronger through access to industry-shared insights, but equally by having Marshmallow’s insights, we’re helping the wider industry’s focus on reducing insurance fraud risk and protecting innocent members of the public.” 

Expansion

This comes as the IFB looks to broaden its membership and affiliate model.

It is doing this after finding that fraud was estimated to cost the insurance industry over £2bn a year, with tens of thousands of fraudulent claims detected annually.

”We have become members at an exciting time as the IFB are making great strides to transform their services to meet the needs of the insurance market,” Ash Jackson, head of fraud at Marshmallow, said.

”We look forward to integrating these services into our processes and platforms, as well as collaborating across the industry in the years to come.”