Verisk and IFIG announce fraud alert partnership

An alert klaxon

The two companies have developed an e-alerts platform designed to help detect and prevent insurance fraud

Global data analytics provider Verisk and non-profit fraud prevention and investigation organisation the Insurance Fraud Investigators Group (IFIG) have partnered on the development of the platform, a replacement for IFIG’s legacy system. It will provide quick and easy access to the IFIG’s extensive fraud database for its hundreds of industry partners, and act as the cornerstone of IFIG and its members’ efforts to tackle insurance fraud.

“As a central part of the industry’s efforts against ever-evolving fraud threats, we needed an innovative replacement for our e-alerts system,” said IFIG Chairman Steve Jackson. “Verisk has delivered a solution that addresses all of our recurring pain points and provides a strong, future-proof foundation for IFIG members to continue their excellent, collaborative counter-fraud activities.”

The new platform enables IFIG members to share knowledge, discuss issues surrounding fraud, and easily search, filter and manage information. Verisk has also enhanced both administration and database monitoring facilities with the addition of granular reporting and an improved data cleansing capability.

“This new platform will enhance both user experiences and operational outcomes,” commented Steve Paton, Head of Anti-Fraud Services for the EU at Verisk, “and we’re already exploring how to leverage the system’s capabilities with other Verisk solutions. We’re pleased that [our] technology expertise, combined with decades of counter-fraud experience, has enabled development of this new solution to bolster IFIG members’ efforts to fight insurance fraud.”