Bill Trueman has quit as managing director of fraud solutions company Absolute.

Absolute confirmed that Trueman left on 29 May but refused to comment on the reasons for his departure.

Trueman denied rumours that he had been forced out, saying it was his decision to leave. “It was time for me to move on and pursue other opportunities,” he said.

Trueman founded Absolute in 2001. It was acquired by Blue Cube Group in June 2006.

The company was at the forefront of using cognitive interviewing, a psychology based technique to detect fraudulent claims, leading to fierce rivalry with Brownsword, pioneer of the voice stress analysis technique in fraud detection.

In November 2004, Capita Commercial Solutions bought Brownsword in an attempt to break into the voice risk analysis area of claims handling. Just over a year later, managing director David Brownsword left the company.

Many insurers now use a combination of both techniques to detect fraudulent claims. Trueman now works as a recruitment consultant in the banking and insurance fraud sector.