Manchester companies unite to deploy national expertise
Two claims investigators have merged to meet the growing demand by insurers to fight fraudulent claims.
The Manchester companies, insurance surveillance specialist Mike India 5 and technical fraud experts Ravenstone-UK, both operate nationally and have joined forces to share resources and expertise in investigating crime against insurers.
Anthony Heaton, managing director of Mike India 5, said insurers were now prepared to pay huge amounts of money to tackle fraud and estimated they spent more than £25m every year outsourcing fraud investigation.
“Insurers are much happier to invest more money earlier in fighting fraud, whether it is motor fraud or surveillance,” he said.
“Insurers are more serious about attacking it and this is probably the best tool in their armoury.”
The company has compiled a list of the top 10 fraud hot spots in England, with areas in Rochdale, Preston and Liverpool taking the lead. Six of the top 10 are in the North West.
Heaton added: “There is a realisation that insurance fraud is going to increase substantially and, if insurers don’t now have a real attempt at attacking it, it will escalate beyond control.”
Richard Norbury, general manager at Ravenstone-UK, said: “By joining forces we are reacting directly to the needs of insurers by creating a company with much better capabilities to seize the exciting opportunities that those requirements dictate.
“We are excited about the potential for bringing a robust set of integrated products and services to the insurance claims sector.”