MS Amlin Insurance implements ‘quote to claim’ fraud prevention across multiple insurance lines

MS Amlin Insurance has expanded the scope of its partnership with data insight specialist Synectics in a strategic move that will enhance fraud detection and prevention measures at the quote, policy, and claims stages - across multiple lines of business.  

Part of the global top-10 insurance group MS&AD, MS Amlin Insurance is a leading insurance and reinsurance specialist. The company helps businesses of all sizes to guard against risk through a range of tailored products exclusively delivered via UK brokers and intermediaries.

Having previously worked with Synectics to increase fraud detection rates relating to motor insurance, MS Amlin Insurance now plans to integrate Synectics’ National SIRA - the UK’s largest syndicated database of cross-sector customer risk intelligence - with processes and digital platforms serving the agriculture and commercial property markets. Two major lines of business for the insurer.

Dean Fletcher, Digital SME Manager at MS Amlin Insurance, said: “Our deep underwriting expertise sets us apart. We can often insure against risks that other providers simply can’t – especially in highly specialist areas like agriculture equipment insurance. What’s more, our digital platforms deliver competitive cover and pricing with speed and efficiency. 
With SIRA, we have an opportunity to bolster this offering, retaining our reputation for fast, comprehensive service while also delivering the peace of mind that comes from knowing stringent fraud detection measures are in place at every stage – from the initial quote to specific claim”. 

While SIRA will be used to risk score both policy and claims applicants, SIRA’s Real Time Quote (RTQ) capabilities – which in this case will be accessed via a third-party system already in place – will be of particular benefit for customer onboarding.

The solution allows users to cross-check customer details with over millions of intelligence records in almost an instant, for fast, risk-appropriate quotations.

As part of the newly expanded relationship with Synectics, MS Amlin’s fraud team will also leverage consultancy services from the provider to evolve and enhance its fraud prevention strategy for the benefit of its customers.

Osman Khurshid, Chief Client Officer at Synectics, said: “At Synectics we have the benefit of working with an extensive network of insurers and analysing vast quantities of syndicated data gives us unparalleled insights into not only the existing patterns but emerging trends too. This insight allows us to not only provide hidden insights but also to anticipate them, providing our clients with the right data at the right time to make accurate decisions”.

Our partnership with MS Amlin Insurance is a prime example of how we can transform data into actionable intelligence, empowering them to take decisive action against fraudsters whilst providing a seamless customer experience for good customers. By leveraging our SIRA platform and strategic consultation services, MS Amlin Insurance can enhance their fraud detection capabilities, understand emerging threats, and ultimately protect their customers.

We are passionate about enabling our clients to harness the full potential of our intelligence, and it’s incredibly rewarding to see MS Amlin Insurance utilising these insights to such great effect. We’re thrilled to continue strengthening our partnership with them as we work together to stay ahead of emerging fraud trends and challenges in the insurance industry.”

Notes to editors

About Synectics

Synectics combats fraud with outstanding effectiveness by leveraging syndicated data in unique and powerful ways. Today, we are leaders in using insight as a force for good.

For over 30 years, Synectics has championed the use of syndicated data across the private and public sectors to prevent crime, manage risk, understand customers and promote financial inclusion.

Today, we are counter-fraud market leaders who deliver unrivalled solutions spanning risk intelligence, decisioning, predictive analytics, ID verification, digital forensics and more. Tier 1 banks, leading insurers, fintechs and the Cabinet Office trust Synectics’ award-winning services, which have prevented fraud losses surpassing 8 billion pounds.

We have won many accolades for our pioneering work and continue to develop cutting-edge solutions to combat the toughest emerging fraud challenges.

About MS Amlin Insurance

MS Amlin Insurance is a leading global insurer and reinsurer, part of the top-10 international insurance group, MS&AD. With a heritage spanning over 400 years and a team of more than 39,000 professionals worldwide, we provide businesses with the continuity they need to navigate complex and challenging risks.

MS Amlin Insurance is committed to ensuring that small and medium-sized enterprises (SMEs) receive the same high level of protection typically reserved for larger organisations. To support this, they have developed innovative digital trading platforms that empower brokers with fast, efficient, and competitive insurance solutions for their SME clients.

Our automated platforms offer 24/7 access to quotes and a wide range of industry-specific products, supported by our expert underwriters who are ready to respond swiftly to any enquiries.

For more information, visit msamlin-insurance.co.uk