Ageas to use data analytics to combat fraud
Ageas is introducing a number of new initiatives designed to combat fraud. Its new Quote Intelligence Service uses data analytics to compare a customer’s current quote with previous quotes to determine potential fraud or claims risks.

Ageas has strengthened its strategy to combat fraud by introducing a number of new initiatives.

Its new Quote Intelligence Service means a customer’s current quote can be compared with previous quotes to identify key variables to determine potential fraud or claims risk. Using elements of ‘quote behaviour’ enables a more accurate and early risk assessment to limit the financial impact of fraud on customers.

John Hooper, executive chairman at IIL, said, ‘Ageas is welcoming the use of big data and the customer and business benefits it brings, and this new exciting development will enhance its current capabilities.’

Adding to that, Ageas has also appointed Chris Andrew as head of fraud for the direct brands and partnership channel, excluding claims fraud. In his new role, Chris is responsible for developing, driving and managing the anti-fraud strategy, including leading the research, development, implementation and evaluation of effective systems and controls to mitigate the risk of fraud.

Stephen Linklater, director of underwriting and pricing, Ageas Direct, said, ‘Chris’s knowledge and expertise makes him a valuable addition to our team. Together with our system enhancements, I am confident Chris will continue to develop our anti-fraud framework so that we can continually protect our customers and partners.’