Somerset Bridge Insurance deployed SIRA RTQ (Real-Time Quotes) to enable them to increase their underwriting capability and create greater efficiencies in the fraud investigations team. Lisa Allen, Fraud Investigations Manager at Somerset Bridge Insurance talks about their motivation for implementing SIRA RTQ.
"After being SIRA members for the past 4 years, and seeing the benefits of being to tap into the National SIRA database, we felt we were missing a trick by not being to process fraud matches at point-of-quote."
"We have plans to write more business, so it was a obvious that this would have a knock-on effect throughout our various teams, including our fraud team."
"So this seemed like the ideal time to move to a real-time quote screening solution. The logic being that by intelligently screening business at point-of-quote, this would allow us to control our referral rates, despite increasing our portfolio and still focus our fraud team on prioritised investigations. Therefore delivering efficiencies for the business via risk selection with the team."
"In terms of meeting our business objectives we think the move to SIRA RTQ will drive significant efficiencies in our fraud area, remove the need for large amounts of manual processing, therefore delivering considerable benefits to the business."
"The efficiencies in the fraud team have certainly been noticed already resulting in a far more efficient use of our SIRA system and allowing us to process more cases. Which is certainly good news for us at Somerset Bridge."