We have strengthened our fraud capability by becoming the first UK legal entity to collaborate with global insurance data analytics and technology leader Verisk , launching ‘Fraud Rely’ – a next-generation anti-fraud intelligence platform.
Following the implementation of the Economic Crime & Corporate Transparency Act 2023 (ECCTA) and the new corporate criminal offence of ‘Failure to prevent fraud’, the onboarding of advanced anti-fraud technologies is viewed as a minimum hygiene factor. Many organisations are having to bolster their anti-fraud measures to ensure compliance and mitigation of risk.
Fraud Rely will provide organisations, from insurers and claim handlers to in-house counter fraud, financial crime and intelligence teams, with a tool to assess and respond to fraud risk effectively. The platform is a bespoke, intelligence-led fraud detection and screening service that combines Verisk anti-fraud technology with Weightmans’ unique fraud database to identify risk early and help teams focus on the highest-risk cases.
The new tool will help identify fraud risk across a range of claims - from opportunistic activity to organised fraud – by spotting suspicious patterns and connections between parties.
Testimonial
-
“Fraud continues to undermine both the UK and global economy. Our collaboration with Verisk represents a major step forward in equipping us – and our clients - with advanced, intuitive technology to combat fraudsters head on. Fraud Rely will be vital in reducing fraud risk, supporting our clients, and protecting genuine customers and businesses alike. “Importantly, the Fraud Rely platform is specifically designed to evolve and keep pace with the constantly changing threat from fraudsters. As risk evolves, so will our response.”
Mike Brown, Head of Fraud at Weightmans
Speak to our experts
