GoCompare joins the Insurance Fraud Bureau
GoCompare has joined not-for-profit the Insurance Fraud Bureau (IFB) as an official member.
The IFB acts as a conduit of information for the insurance industry, to help in the fight against fraud, allowing comparison websites such as GoCompare to check suspicious entities against data and quickly receive an indication of whether there are suspicions of fraud.
This move builds on GoCompare’s existing efforts to tackle fraud, having partnered with Featurespace in December, to incorporate real time machine-learning to spot anomalies, block new fraud, and recognise genuine customers.
Fleur Lewis, head of fraud at GoCompare said the IFB has played an important role in the fight against fraud.
“We have been working alongside the IFB for several years and becoming a member will enhance our current fraud capabilities to protect both our partners and customers alike,” she said.
“Being a comparison website, we’re very aware that we act as the guardians of data for many insurers and we have an important role to play in the prevention of front-end fraud.”
Nick Benham, Head of Customer Services at the Insurance Fraud Bureau, added: “Price comparison websites are on the front-line of the fight against fraud, with access to a wealth of data and intelligence on suspected fraudulent activity. It is therefore strategically important that the industry forges close links with comparison websites in order to reduce the opportunities for fraudsters and ensure our honest customers are not impacted.
GoCompare’s anti-fraud project will continue to develop over the next 12 months, with further insights, developments and fraud prevention capabilities.