GoCompare joins Cifas
The UK-based comparison website has become the first site of its kind to join the not-for-profit fraud prevention organisation
In joining, GoCompare has become Cifas’ 500th member. The move is part of the comparison site’s ongoing anti-fraud strategy, which included joining the Insurance Fraud Bureau earlier this year. Last year, GoCompare also partnered with Featurespace to introduce real-time machine-learning in order to better spot anomalous activity, block fraud attempts and more quickly and easily recognise genuine customers.
Cifas boasts the biggest cross-sector fraud information sharing database in the UK and is a key source of data for insurers looking to prevent and battle fraud. Sites such as GoCompare can use the organisation’s intelligence to check for suspicious histories or activities at the point of quote.
“Being a comparison website, we have an important role to play in the prevention of fraud for the industry and we believe it’s our duty to support in any way we can by identifying fraudulent behaviour,” commented Fleur Lewis, GoCompare’s Head of Fraud. “We’re thrilled to become the first UK comparison website and 500th member to join Cifas. As members, having access to the cross-sector fraud sharing database will build on our current fraud capabilities and protect both our partners and customers alike.”
Mike Haley, CEO of Cifas, said that GoCompare was a ‘trailblazer’ in the ongoing fight against insurance fraud: “We are delighted to welcome GoCompare ... and its membership means it is now part of a unique community of organisations committed to disrupting and deterring fraudulent activity.”
Earlier this year, Cifas reported that there had been a 27-per-cent rise in false insurance claims in the UK between 2018 and 2019, with household and motor insurance showing particular spikes of 52 per cent and 45 per cent respectively. The Association of British Insurers, meanwhile, reported back in August that 1,300 insurance scams are uncovered every day, with the average case topping £12,000.