Zurich partners with Quantexa

Zurich has become the first UK insurer to partner with Quantexa , using its AI-based Decision Intelligence platform to improve real-time fraud detection across multiple business lines. The system cross-references claims data from CUE, the Insurance Fraud Register, and Companies House to automatically identify connections and alert handlers to suspicious activity.

“The technology and techniques used by fraudsters are always evolving and so are our efforts to stay ahead of them. The adoption of Quantexa means we can detect fraud more effectively than ever, enabling us to take steps to protect our commercial and public sector customers from fabricated and exaggerated claims being made against them. Equally, we always want to protect our honest customers which this enables us to do. Importantly, the real-time nature of the platform means we can reinforce our defenses against fraudsters without holding up processes for genuine claimants.” – Scott Clayton, Head of Claims Fraud at Zurich.

“Effective fraud prevention depends on insurers being able to build up a detailed picture of their customers and all the ways they interact with the industry. Our platform pulls together data which was previously siloed and scattered to give a comprehensive 360-degree view of each claim. We’re delighted to be working with Zurich to put our technology into action in the UK insurance sector for the first time, helping reduce losses from fraud while also increasing the efficiency of other processes.” – Dan Higgins, Chief Product Officer at Quantexa.