Open GI fraud deal means brokers can improve the fight against application fraud
Open GI has teamed up with Verisk Insurance Solutions with a new vehicle check to help brokers combat fraud.
The check, called V-Risk, is available on the Open GI fraud management platform for both personal and small commercial motor vehicles.
In the first fraud initiative of its kind for brokers, the Open GI fraud partnership with V-Risk means there is an online facility for a vehicle data and history check.
This validates vehicle details, and also assess the risk during underwriting and at claim stages.
Open GI propositions director Nick Giddings said: “Car insurance fraud continues to be a challenge for the industry. Therefore, we are pleased to be able to offer our brokers additional products to help them combat application fraud.
“Verisk’s new solution, V-Risk, will not only help brokers verify vehicle details but will help provide greater accuracy on pricing premiums. This will give our brokers a major competitive advantage whilst continuing to help stamp out car insurance fraud.”
Verisk Insurance Solutions managing director Ciaran McGaley said: “Verisk Insurance Solutions have designed ‘V-Risk’ in conjunction with a number of leading motor insurers to help downstream claims and fast-track clients through the quotation process.
“This product aggregates and compares a range of data sources that include vehicle history, ownership, and use and combines multiple risk factors to deliver an easy-to-integrate and use risk scoring system. It will help brokers to rapidly get a handle on higher risk vehicles.”