ISO Claims Services, part of Insurance Services Office (ISO), has bought NetMap Analytics, a provider of analytical and visualisation data-mining technology.
An ISO statement said the move would strengthen its product offering and enhance its competitive position in the UK by allowing it to provide insurance organisations with a "powerful data analysis tool".
The deal will give ISO sole rights to sell the NetMap for Claims anti-fraud solution. NetMap for Claims enables fraud managers and special investigations units (SIUs) to reveal and act on complex patterns of fraud across multiple claims.
ISO, which provides insurance claims services and information about property and liability risk, said the Association of British Insurers (ABI) had estimated that fraud claims amounted to over £2bn in the UK each year.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
