Insurance companies have started testing a new fraud information hub developed by the Insurance Fraud Bureau (IFB). As part of its ‘2020 vision’ strategy, the IFB was asked by the industry to create a new intelligence platform. So the IFB has started work on the Insurance Fraud Intelligence Hub (IFiHub). Following a procurement process, SAS Software was given the responsibility of building the system. IFB director, Ben Fletcher said: “This platform will enable the industry to share information about all types of suspected frauds, trends and patterns across all product types. ”Insurers have been involved in not only designing and building the system but the testing also.” This week, companies such as RSA, Esure, Zurich and Ageas have tested the new system, and Fletcher says things are progressing as they should and the launch of the system should be within the next few months. He said: ”The testing is going well and the system is on track to be made available to industry from July onwards.”
A number of insurers, including Esure, Ageas, RSA and Zurich, have been testing the IFB’s new fraud sharing hub, which is expected to go live in July.