If you’re going to get serious about fraud then you might as well call on the experts – and that is exactly what
NFU Mutual has done.
The UK-based mutual insurer has teamed up with BAE Systems to benefit from what it describes as “comprehensive protection across underwriting, claims and financial crime services”.
Beginning in 2017, BAE Systems’ financial crime division will provide NFU Mutual with a counter fraud solution that will detect and prevent financial crime throughout the customer lifecycle and across the business. The partnership will enable NFU Mutual to exploit external and internal data sources to accurately identify fraudsters at the point of sale and point of claim, while ensuring customers are fast-tracked through the policy application and claims processes.
Speaking about the deal, George Robbins, VP EMEA of commercial solutions at BAE Systems Applied Intelligence remarked that the company will have a “zero tolerance approach to fraud and financial crime”.
“Many businesses work in silos, which often means teams not only operate using different systems and technologies, they also duplicate effort and costs,” he said. “By consolidating NFU Mutual’s operations into a single group fraud and financial crime platform we can improve controls on financial crime and fraud detection.
“The decision to work with BAE Systems came from recognition that we are able to provide a system that is proven within the insurance industry and which can be tailored towards the specific needs required for NFU Mutual.
This, coupled with BAE Systems extensive data partnerships, enables us to create a platform which combines high quality analytics and data sources ultimately maximising value for NFU Mutual.”
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