IFB fraud data sharing could extend beyond insurers to supply chain
The Insurance Fraud Bureau (IFB) has launched a consultation on whether it should extend its services beyond insurers and broker to include defendant lawyers, investigators and other industry suppliers.
The IFB is asking suppliers to register their interest in the consultation, on whether the IFB should create an affiliate membership, by 30 November.
The Bureau said that extending its services to defendant lawyers, investigators, loss adjusters and third-party handling agents would strengthen the fight against organised criminal gangs targeting the insurance industry.
Additionally, the consultation will establish market appetite for IFB membership and shape the development of the pricing model. A new affiliate membership model could then be launched in late 2016.
IFB director Ben Fletcher said: “Intelligence sharing is the key to catching insurance cheats. Through the IFB, the insurance industry has established a hub for sharing organised fraud intelligence and we have seen the results in terms of claim repudiations, fines and jail sentences.
“By extending IFB data sharing to suppliers helping our industry to fight fraud, we close the net on criminals abusing the system, whilst making the landscape more efficient and compliant.”
Affiliates can register their interest in IFB membership by emailing IFB Head of Customer Services Nick Benham on email@example.com.
All interested parties will then be invited to a briefing session and Q&A forum at the IFB headquarters.
Last October the IFB opened its doors to brokers in an effort to widen the net on fraudsters and fight back against rising application fraud.