NFU Mutual partners with Synectics to fortify policy holder protections

NFU Mutual has announced a strategic partnership with Synectics to further enhance existing fraud defences and ensure that genuine customers receive the best possible experience.

The collaboration will see the UK’s leading rural insurer become part of the UK’s largest network of syndicated risk intelligence, enabling it to provide accurate real time quotes and fast-track applications from customers, while also keeping potential fraudsters at bay.

National SIRA sits at the heart of new measures being adopted by NFU Mutual, and of Synectics’ suite of advanced fraud solutions - a suite comprising AI, machine learning, and sophisticated risk analysis tools that insurers across the UK currently leverage from quote to claim.

As the UK’s largest database of ever-evolving cross-sector risk intelligence, SIRA’s accuracy as a fraud fighting resource can be attributed to the fact it is continuously updated by hundreds of member insurers and financial service providers for the benefit of all.

Rich Daley, Synectics’ Business Development Manager, commented: “In other words, we offer strength by community – enabling our users to say ‘yes’ to more good customers, and to confidently protect those customers from the impact of fraud and financial crime.”

For NFU Mutual – an organisation wholly owned by and committed to its member policyholders – the solution has clear appeal.

Charlotte Brown, Underwriting Fraud Manager at NFU Mutual, added: “As a large mutual insurer, we judge success on our ability to protect and support our members while delivering the excellent service they expect from NFU Mutual.

“This new partnership with Synectics will help us to do just that, providing leading edge technology which will enhance customer experience while empowering us to safeguard against fraud.

“Any attempted fraud against a mutual is an attempt against all its members, and financial crime is an ever-present threat, so we are delighted to be collaborating with Synectics to further enhance NFU Mutual’s fraud defences.”

 NFU Mutual’s partnership with Synectics will initially see fortified fraud measures implemented across its home and motor insurance lines. With the insurer also having access to Synectics’ expert team of analysts and special investigators.

Synectics creates fraud-focused intelligence solutions that combat fraud with outstanding effectiveness. By leveraging syndicated data in unique and powerful ways, we’ve created an advanced suite of AI, ML and risk decisioning technologies that separate bad actors from genuine customers. So, our customers can say “yes” to more good business with confidence.