Insurance firm AXA is to use a hosted BAE Systems Detica anti-fraud platform to help tackle a reported spike in fraudulent claims.
The Detica NetReveal fraud prevention service is part of an AXA initiative to select a single solution across the group. Detica NetReveal promises to reduce the risk of fraudulent customer claims and improve investigation times for the personal and commercial motor and property lines of the business.
The hosted service enables AXA to benefit from reduced costs in IT expenditure and implementation times as part of a global roll-out programme. AXA said the software would give investigators the ability to "monitor and clearly identify and prioritise suspicious activity, as well as quickly access and analyse customer data".
As a result, it said, the firm would be able to improve customer service through faster claims handling times, and also minimise the time and resources spent on investigating claims incorrectly flagged as being suspicious.
Pierre Brigadeau, group chief claims officer, for AXA global personal and commercial insurance said, "We shall investigate fewer cases, increase our efficiency and protect honest customers from paying for fraudulent claims activities."
Detica NetReveal links related entities within a companies’ data to reveal networks of suspicious activity that are otherwise hidden beneath seemingly innocuous claims.
Unlike traditional rules-based systems that can only monitor fraud methods already known to occur, says Detica, the NetReveal system provides a single view of customers and their known associates, scoring individual and network behaviours across an organisation’s entire portfolio of products and brands.
AXA UK protects its online operations with the Oracle Identity and Access Management platform. The system is used to give customers and partners federated identity access to AXA websites and services.