Not-for-profit UK insurance advisor MIB has announced the extension of its platform Claims and Underwriting Exchange (CUE). MIB said that CUE now accepts data relating to travel insurance claims, enhancing the industry’s ability to tackle fraud.
The expansion follows on from the Insurance Fraud Taskforce (IFT) report in 2016, which recommended that insurers develop the capability to access a wider set of data in order to try and combat fraud. The CUE database currently holds more than 35 million records about incidents and claims reported to insurers.
Kaushik Patel, head of data services at MIB said: “The fight against insurance fraud relies heavily on quality databases, such as CUE, and the expansion into the travel claims category enhances the industry’s capability even further. We encourage insurers to take advantage of this new service, which gives them the central ability to load and enquire about incidents and claims, and share data with other insurers to combat fraud.”
According to MIB, CUE will allow insurers to validate a policyholder’s travel claims history for both claims management and underwriting purposes. This will initially be available at the point of claim.