Telematics specialist broker Carrot Insurance has become a member of the Insurance Fraud Bureau (IFB) to join the collective fight against scams in the industry.
The young company, which utilises telematics technology to reward responsible drivers, will use IFB products and services to help prevent fraud at point of quote while also providing a new source of data for the IFB to identify fraud.
Carrot Insurance will also contribute to industry-scale investigations managed by the IFB, which is probing over 150 organised fraud rings in the UK.
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“Insurance fraud is a big concern for any broker and we’re delighted to have the opportunity to be able to share our unique telematics data with the IFB,” said Tim Spreadbury, head of claims at Carrot Insurance.
“This will be a strong partnership that will help us approach the problem early in the quote process, saving time and money across the business, while allowing us to offer lower premiums to our customers,” Spreadbury also said.
The IFB said the intelligence provided by Carrot Insurance will help shed light on ghost broking and misrepresentation on insurance policies.
“Detecting and disrupting fraud relies on access to good quality information and the IFB’s position at the heart of the issue, with unrivalled access to industry, law enforcement and other regulatory data, is further strengthened with Carrot’s contribution,” said IFB director Ben Fletcher.
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